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§ 1403 — 1403 — U.S. Virgin Islands Law | CourtGPT
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U.S. Virgin Islands Legal Code

1403

U.S. Virgin Islands § 1403 — U.S. Virgin Islands law

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(a) A limited liability company shall reimburse a member or manager for payments made and indemnify a member or manager for liabilities incurred by the member or manager in the ordinary course of the business of the company or for the preservation of its business or property.\n(b) A limited liability company shall reimburse a member for an advance to the company beyond the amount of contribution the member agreed to make.\n(c) A payment or advance made by a member which gives rise to an obligation of a limited liability company under subsection (a) or (b) of this section constitutes a loan to the company upon which interest accrues from the date of the payment or advance.\n(d) A member is not entitled to remuneration for services performed for a limited liability company, except for reasonable compensation for services rendered in winding up the business of the company.