§ 322c-0103

322C.0103 KNOWLEDGE; NOTICE. Subdivision 1. Knowledge of facts. A person knows a fact when the person: (1) has actual knowledge of it; or (2) is deemed to know it under subdivision 4, clause (1), or law other than this chapter. Subd. 2. Notice of facts. A person has notice of a fact when the person: (1) has reason to know the fact from all of the facts known to the person at the time in question; or (2) is deemed to have notice of the fact under subdivision 4, clause (2). Subd. 3. Notification of facts. A person notifies another of a fact by taking steps reasonably required to inform the other person in ordinary course, whether or not the other person knows the fact. Subd. 4. Constructive notice. A person that is not a member is deemed: (1) to know of a limitation on authority to transfer real property as provided in section 322C.0302, subdivision 7; and (2) to have notice of a limited liability company's: (i) dissolution, 90 days after a statement of dissolution under section 322C.0702, subdivision 2, clause (2)(i), becomes effective; (ii) termination, 90 days after a statement of termination under section 322C.0702, subdivision 2, clause (2)(vi), becomes effective; and (iii)

.0702, subdivision 2, clause (2)(i), becomes effective; (ii) termination, 90 days after a statement of termination under section 322C.0702, subdivision 2, clause (2)(vi), becomes effective; and (iii) merger, conversion, or domestication, 90 days after articles of merger, conversion, or domestication under sections 322C.1001 to 322C.1015 become effective. History: 2014 c 157 art 1 s 3

322C.0103 KNOWLEDGE; NOTICE. Subdivision 1. Knowledge of facts. A person knows a fact when the person: (1) has actual knowledge of it; or (2) is deemed to know it under subdivision 4, clause (1), or law other than this chapter. Subd. 2. Notice of facts. A person has notice of a fact when the person: (1) has reason to know the fact from all of the facts known to the person at the time in question; or (2) is deemed to have notice of the fact under subdivision 4, clause (2). Subd. 3. Notification of facts. A person notifies another of a fact by taking steps reasonably required to inform the other person in ordinary course, whether or not the other person knows the fact. Subd. 4. Constructive notice. A person that is not a member is deemed: (1) to know of a limitation on authority to transfer real property as provided in section 322C.0302, subdivision 7; and (2) to have notice of a limited liability company's: (i) dissolution, 90 days after a statement of dissolution under section 322C.0702, subdivision 2, clause (2)(i), becomes effective; (ii) termination, 90 days after a statement of termination under section 322C.0702, subdivision 2, clause (2)(vi), becomes effective; and (iii)

.0702, subdivision 2, clause (2)(i), becomes effective; (ii) termination, 90 days after a statement of termination under section 322C.0702, subdivision 2, clause (2)(vi), becomes effective; and (iii) merger, conversion, or domestication, 90 days after articles of merger, conversion, or domestication under sections 322C.1001 to 322C.1015 become effective. History: 2014 c 157 art 1 s 3