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Terms Used In Vermont Statutes Title 11 Sec. 4041

  • Member: means a person that has become a member of a limited liability company under section 4051 of this title and has not dissociated under section 4081 of this title. See
  • Person: shall include any natural person, corporation, municipality, the State of Vermont or any department, agency, or subdivision of the State, and any partnership, unincorporated association, or other legal entity. See

§ 4041. 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 title from imposing liability on a limited liability company because of the person’s conduct. (Added 2015, No. 17, § 2.)