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Hawaii Revised Statutes Division 2. Business § 428-703

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

Provided that the dissociation does not result in a dissolution and winding up of a limited liability company's business, for two years after a member dissociates from the company, the company, including a surviving company under part IX, shall be bound by an act of the dissociated member which would have bound the company under section 428-301 before dissociation only if at the time of entering into the transaction the other party:

(1) Reasonably believed that the dissociated member was then a member;

(2) Did not have notice of the member's dissociation; and

(3) Is not deemed to have had notice under section 428-704.

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Cite this article: FindLaw.com - Hawaii Revised Statutes Division 2. Business § 428-703 - last updated January 01, 2025 | https://codes.findlaw.com/hi/division-2-business/hi-rev-st-sect-428-703/

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