Except as 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 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.
Del. Code tit. 6, §§ 18-107
Business transactions of member or manager with the limited liability company
Known as the Delaware Limited Liability Company Act
The act spans §§ 6-18-1001 to 6-18-912 (105 sections).
68 Del
Official source: Delaware Code Online. Reproduced from public-domain Delaware statutes; confirm against the official source for the current text. Not legal advice.