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Idaho Statutes Title 30. Corporations § 30-25-103. Knowledge--Notice

Current as of January 01, 2024 | Updated by FindLaw Staff

(a) A person knows a fact if the person:

(1) Has actual knowledge of it; or

(2) Is deemed to know it under subsection (d)(1) of this section or law other than this act.

(b) A person has notice of a fact if the person:

(1) Has reason to know the fact from all the facts known to the person at the time in question; or

(2) Is deemed to have notice of the fact under subsection (d)(2) of this section.

(c) Subject to section 30-21-212, Idaho Code, a person notifies another person of a fact by taking steps reasonably required to inform the other person in ordinary course, whether or not those steps cause the other person to know the fact.

(d) A person not a member is deemed:

(1) To know of a limitation on authority to transfer real property as provided in section 30-25-302(g), Idaho Code; and

(2) To have notice of a limited liability company's:

(A) Dissolution ninety (90) days after a statement of dissolution under section 30-25-702(b)(2)(A), Idaho Code, becomes effective;

(B) Termination ninety (90) days after a statement of termination under section 30-25-702(b)(2)(F), Idaho Code, becomes effective; and

(C) Participation in a merger, interest exchange, conversion, or domestication ninety (90) days after articles of merger, interest exchange, conversion, or domestication under chapter 22, title 30, Idaho Code, become effective.

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Cite this article: FindLaw.com - Idaho Statutes Title 30. Corporations § 30-25-103. Knowledge--Notice - last updated January 01, 2024 | https://codes.findlaw.com/id/title-30-corporations/id-st-sect-30-25-103/

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