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Transaction of business between member or manager and limited liability company

M.G.L. c. 156C, § 7
in effect
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c. 156C, § 7. Transaction of business between member or manager and limited liability company Section 7. Except as provided in a written operating agreement, a member or manager may lend money to, borrow money from, act as a surety, guarantor or endorser for, guarantee or assume one or more specific obligations of, provide collateral for, and transact other business with a limited liability company and, subject to other applicable law, has the same rights and obligations with respect to any such matter as a person who is not a member or manager.
Source: Massachusetts General Court (malegislature.gov)URL: https://malegislature.gov/Laws/GeneralLaws/PartI/TitleXXII/Chapter156C/Section7Fetched: 10/20/2026

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