Current as of January 01, 2020 | Updated by FindLaw Staff
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For two years after a member dissociates without the dissociation resulting in a dissolution and winding up of a limited liability company's business, the company, including a surviving company under article nine of this chapter, is bound by an act of the dissociated member which would have bound the company under section 3-301 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 7-704.
Cite this article: FindLaw.com - West Virginia Code Chapter 31B. Uniform Limited Liability Company Act § 31B-7-703. Dissociated member's power to bind limited liability company - last updated January 01, 2020 | https://codes.findlaw.com/wv/chapter-31b-uniform-limited-liability-company-act/wv-code-sect-31b-7-703.html
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