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Alaska Statutes Title 10. Corporations and Associations § 10.50.260. Limited liability company charged with knowledge of or notice to member or manager

Current as of January 01, 2025 | Updated by Findlaw Staff

(a) Except as provided in (b) and (c) of this section, and except for a fraud on the company committed by or with the consent of the member who has the knowledge or receives the notice, the following operate as notice to or knowledge of a limited liability company:

(1) notice given to a company member of a matter relating to the affairs of the company;

(2) the knowledge of a company member acting in the particular matter, whether acquired while a member or known at the time of becoming a member; and

(3) the knowledge of a company member who reasonably could and should have communicated the knowledge to a member acting in the particular matter.

(b) If the company is managed by a manager, the following operate as notice to or knowledge of a limited liability company, except for a fraud on the company committed by or with the consent of the manager who has the knowledge or receives the notice:

(1) notice given to a manager of a matter relating to the affairs of the limited liability company;

(2) the knowledge of the manager acting in the particular matter, acquired while a manager or known at the time of becoming a manager; and

(3) the knowledge of a company manager who reasonably could and should have communicated the knowledge to the manager acting in the particular matter.

(c) If the company is managed by a manager, notice to, or the knowledge of, a member of a limited liability company while the member is acting solely in the capacity of a member does not operate as notice to or knowledge of the company.

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Cite this article: FindLaw.com - Alaska Statutes Title 10. Corporations and Associations § 10.50.260. Limited liability company charged with knowledge of or notice to member or manager - last updated January 01, 2025 | https://codes.findlaw.com/ak/title-10-corporations-and-associations/ak-st-sect-10-50-260/

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