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3957 — Puerto Rico Law | CourtGPT
  1. Home/
  2. Laws/
  3. Puerto Rico/
  4. Title Fourteen - Private Corporations (§§ 1 — 4084)/
  5. Subtitle 5 - General Corporations Act (2009)/
  6. Chapter 239 - Limited Liability Companies Sub/
  7. Subchapter A/
  8. 3957
Puerto Rico Legal Code

3957

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Except as otherwise provided in a limited liability company agreement, a member or manager may lend money to, borrow money from, act as a surety, guarantor or endorser for, guarantee or assume one (1) or more obligations of, provide collateral for, and transact other business with, a limited liability company and, subject to other applicable law, has the same rights and obligations with respect to any such matter as a person who is not a member or manager.\nHistory —Dec. 16, 2009, No. 164, § 19.07.