Member of a limited liability company definition

Member of a limited liability company means any member of a limited liability company formed pursuant to T.C.A. Title 48, Chapters 201 – 249 that is active and in good standing as reflected in the records of the secretary of state.
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Member of a limited liability company means any member of a limited liability company formed pursuant to title 48, chapters 201 – 249. For purposes of this subdivision, “member” means only a natural person and does not include a business entity;
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Examples of Member of a limited liability company in a sentence

  • The Member may take such action as may be appropriate for the Member of a limited liability company under the Act by a written consent signed by the Member.

  • The term Managing General Partner can also be used for a Managing Member of a limited liability company where so designated to bind the limited liability company and its members under its Agreement or any other person that has such powers in fact, regardless of their organizational title.

  • In accordance with the Law, a Member of a limited liability company may, under certain circumstances, be required to return to the limited liability company, for the benefit of creditors, amounts previously distributed to that Member as a return of capital.

  • Moreover, although as a Member of a limited liability company your financial risk will generally be limited to your invested capital, certain laws intended to protect creditors could require you to return some or all of a distribution if, at the time the distribution was made to you, the Company’s liabilities exceeded the value of its assets or it was otherwise insolvent.

  • Under the Act, a Member of a limited liability company may, under certain circumstances, be required to return amounts previously distributed to such Member.

  • Control means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of any person or Affiliate thereof, whether through the ownership of voting securities, by contract or otherwise, including specifically, ownership of more than 50% of the General Partner interest in a limited partnership, or designation as General Partner/Managing Member of a limited liability company.

  • The Member shall have the exclusive right to manage the affairs of the Company and shall have all rights, powers and authority afforded to the Member of a limited liability company under the Act.

  • Authorized Agent may include an Officer of a corporation, a General Partner of a partnership, a Managing Member of a limited liability company, or any other individual who has been granted such authority in writing executed by an individual having authority to bind the entity.

  • The Managing Member shall have all the rights, powers and authority permitted to be exercised by the Managing Member of a limited liability company formed under the Act, except with respect to Major Decisions or as otherwise expressly limited or restricted by this Agreement.

  • Early each morning, the first to appear in church was always Fr. Gaspar.

Related to Member of a limited liability company

  • Domestic limited liability company means an entity that is an unincorporated association having one or more members and that is organized under ORS chapter 63.

  • Single member limited liability company means a limited liability company that has one direct member.

  • Foreign limited liability company means an unincorporated entity formed under the law of a jurisdiction other than this state and denominated by that law as a limited liability company.

  • Member-managed limited liability company means a limited liability company that is not a manager-managed limited liability company.

  • Limited liability company means a limited liability company formed under Chapter 1705 of the Ohio Revised Code or under the laws of another state.

  • Limited Liability Company Interests means the entire limited liability company membership interest at any time owned by any Pledgor in any limited liability company.

  • Limited Liability Company Assets means all assets, whether tangible or intangible and whether real, personal or mixed (including, without limitation, all limited liability company capital and interest in other limited liability companies), at any time owned or represented by any Limited Liability Company Interest.

  • Professional limited liability company means a limited

  • Manager-managed limited liability company means a limited liability company that is managed by

  • Foreign limited liability limited partnership means a foreign limited partnership whose general partners have limited liability for the obligations of the foreign limited partnership under a provision similar to section 488.404, subsection 3.

  • Limited liability partnership or “LLP” shall mean a Company governed by Limited Liability Partnership Act 2008 or as amended;

  • Foreign limited liability partnership means a partnership that:

  • Limited Liability Company Agreement means the Amended and Restated Limited Liability Company Agreement of the Depositor, dated as of March 1, 2001, executed by Ford Credit, as sole member; or the Limited Liability Company Agreement of Ford Credit, dated as of April 30, 2007 and effective on May 1, 2007, as the context requires.

  • Limited liability means that the liability of each shareholder is limited to the amount unpaid by the shareholder on the shares of the company (except in exceptional circumstances, such as involving fraud, the establishment of an agency relationship or an illegal or improper purpose or other circumstances in which a court may be prepared to pierce or lift the corporate veil).

  • Utility Company means a municipal corporation or commission or a company or individual operating or using communications services, water services or sewage services, or transmitting, distributing or supplying any substance or form of energy for light, heat or power; (“entreprise de services publics”)

  • Foreign limited partnership means a partnership formed under laws other than of this state and having as partners one or more general partners and one or more limited partners.

  • Substituted Limited Partner means a Person who is admitted as a Limited Partner to the Partnership pursuant to Section 11.4.

  • Limited Partnership Interest means the ownership interest of a Limited Partner in the Partnership at any particular time, including the right of such Limited Partner to any and all benefits to which such Limited Partner may be entitled as provided in this Agreement and in the Act, together with the obligations of such Limited Partner to comply with all the provisions of this Agreement and of the Act.

  • Partnership has the meaning set forth in the Preamble.

  • Member in Good Standing means a member in service who is not subject to removal by the employing city of the member pursuant to section 400.18 or 400.19, or other comparable process, and who is not the subject of an investigation that could lead to such removal. Except as specifically provided pursuant to section 411.9, a person who is restored to active service for purposes of applying for a pension under this chapter is not a member in good standing.

  • General partnership means an organization formed under chapters 45-13 through 45-21.

  • Limited Partnership Agreement means the Amended and Restated Agreement of Limited Partnership of the Partnership dated as of March 1, 2017, as amended, supplemented or restated from time to time.

  • Investor Limited Partner means any Limited Partner so designated at the time of its admission as a partner of the Partnership.

  • General Partnership Interest means a Partnership Interest held by the General Partner that is a general partnership interest.

  • Member organization means any individual, corporation, limited liability company, partnership, or association that belongs to an association.

  • Class B Limited Partner means any Person executing (by power of attorney or otherwise) this Agreement as of the date hereof as a Class B Limited Partner or hereafter admitted to the Partnership as a Class B Limited Partner as herein provided, but shall not include any Person who has ceased to be a Class B Limited Partner in the Partnership.