New Jersey Statutes 42:2C-27. No agency power of member as member
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Terms Used In New Jersey Statutes 42:2C-27
- person: includes corporations, companies, associations, societies, firms, partnerships and joint stock companies as well as individuals, unless restricted by the context to an individual as distinguished from a corporate entity or specifically restricted to one or some of the above enumerated synonyms and, when used to designate the owner of property which may be the subject of an offense, includes this State, the United States, any other State of the United States as defined infra and any foreign country or government lawfully owning or possessing property within this State. See New Jersey Statutes 1:1-2
27. No Agency Power of Member as Member.
a. A member is not an agent of a limited liability company solely by reason of being a member.
b. A person‘s status as a member does not prevent or restrict law other than this act from imposing liability on a limited liability company because of the person’s conduct.
L.2012, c.50, s.27.