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Chapter 322B
Section 322B.683
Topics
Recent History
- 2014 322B.683 Repealed 2014 c 157 art 1 s 91
This is an historical version of this statute chapter. Also view the most recent published version.
322B.683 CONTRACT RIGHTS.
The election or appointment of a person as a manager or agent does not, of itself, create
contract rights. A limited liability company may enter into a contract with a manager or agent
for a period of time if, in the board of governors' judgment, the contract would be in the best
interests of the limited liability company. The fact that the contract may be for a term longer
than the terms of the governors who authorized or approved the contract does not make the
contract void or voidable.
History: 1992 c 517 art 2 s 89
The election or appointment of a person as a manager or agent does not, of itself, create
contract rights. A limited liability company may enter into a contract with a manager or agent
for a period of time if, in the board of governors' judgment, the contract would be in the best
interests of the limited liability company. The fact that the contract may be for a term longer
than the terms of the governors who authorized or approved the contract does not make the
contract void or voidable.
History: 1992 c 517 art 2 s 89
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Revisor of Statutes