Idaho Statutes Title 30. Corporations § 30-25-102. Definitions

(1) “Certificate of organization” means the certificate required by section 30-25-201, Idaho Code. The term includes the certificate as amended or restated.

(2) “Contribution,” except in the phrase “right of contribution,” means property or a benefit described in section 30-25-402, Idaho Code, that is provided by a person to a limited liability company to become a member or in the person's capacity as a member.

(3) “Distribution” means a transfer of money or other property from a limited liability company to a person on account of a transferable interest or in the person's capacity as a member. The term:

(4) “Limited liability company” means an entity formed under this chapter or that becomes subject to this chapter under chapter 22, title 30, Idaho Code, or section 30-25-110, Idaho Code.

(5) “Manager” means a person that under the operating agreement of a manager-managed limited liability company is responsible, alone or in concert with others, for performing the management functions stated in section 30-25-407(c), Idaho Code.

(6) “Manager-managed limited liability company” means a limited liability company that qualifies under section 30-25-407(a), Idaho Code.

(7) “Member” means a person that:

(8) “Member-managed limited liability company” means a limited liability company that is not a manager-managed limited liability company.

(9) “Operating agreement” means the agreement, whether or not referred to as an operating agreement and whether oral, implied, in a record, or in any combination thereof, of all the members of a limited liability company, including a sole member, concerning the matters described in section 30-25-105(a), Idaho Code. The term includes the agreement as amended or restated.

(10) “Organizer” means a person that acts under section 30-25-201, Idaho Code, to form a limited liability company.

(11) “Transferable interest” means the right, as initially owned by a person in the person's capacity as a member, to receive distributions from a limited liability company, whether or not the person remains a member or continues to own any part of the right. The term applies to any fraction of the interest, by whomever owned.

(12) “Transferee” means a person to which all or part of a transferable interest has been transferred, whether or not the transferor is a member. The term includes a person that owns a transferable interest under section 30-25-603(a)(3), Idaho Code.

(1) “Debtor in bankruptcy”--section 30-21-102(7), Idaho Code.

(2) “Foreign”--section 30-21-102(15), Idaho Code.

(3) “Jurisdiction”--section 30-21-102(22), Idaho Code.

(4) “Jurisdiction of formation”--section 30-21-102(23), Idaho Code.

(5) “Person”--section 30-21-102(35), Idaho Code.

(6) “Principal office”--section 30-21-102(36), Idaho Code.

(7) “Property”--section 30-21-102(41), Idaho Code.

(8) “Record”--section 30-21-102(44), Idaho Code.

(9) “Registered agent”--section 30-21-102(45), Idaho Code.

(10) “Sign”--section 30-21-102(47), Idaho Code.

(11) “State”--section 30-21-102(48), Idaho Code.

(12) “Transfer”--section 30-21-102(50), Idaho Code.