Bill Summary for S 439 (2013-2014)
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Summary date:
Apr 25 2013
S.L. 2013-157
Bill Information:
| View NCGA Bill Details | 2013-2014 Session |
A BILL TO BE ENTITLED AN ACT TO AMEND AND RESTATE THE NORTH CAROLINA LIMITED LIABILITY COMPANY ACT AND TO MAKE OTHER CONFORMING CHANGES.Intro. by Clodfelter, Barringer, Brunstetter.
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Bill summary
Senate amendment to the 2nd edition makes the following changes. Amends proposed GS 57D-2-30(c) to limit the provision that oral or implied provisions in the operating agreement may not supplant, vary, disclaim, or nullify any contrary or inconsistent written provision in the operating agreement to the detriment of the rights of the persons who are not parties to the operating agreement, to the extent that they reasonably rely on those written provisions in the operating agreement.