Current as of April 21, 2021 | Updated by FindLaw Staff
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The effective date of the admission of a member to a limited liability company is the later of the date
(1) when the company is organized;
(2) established in an operating agreement of the company; or
(3) when the person's admission is reflected in the records of the company if an operating agreement of the company does not establish an effective date.
A loan may not be made to a member if, on the making of the loan, the member would be indebted to the credit union on loans from the credit union in an amount exceeding 10 percent of the unimpaired capital and surplus of the credit union.
Cite this article: FindLaw.com - Alaska Statutes Title 10. Corporations and Associations § 10.50.160. Effective date of admission - last updated April 21, 2021 | https://codes.findlaw.com/ak/title-10-corporations-and-associations/ak-st-sect-10-50-160.html
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