Determination of lack of authority to sue; prohibited assertions
Applied in 1 court decision — leading case Boone County Utilities, LLC v. Branham Corp. (In re Boone County Utilities, LLC) (2014)
Most recently applied in Boone County Utilities, LLC v. Branham Corp. (In re Boone County Utilities, LLC) (September 2014)
As added by P.L.8-1993, SEC.301.
Sec. 2. A determination that a member or manager does not have authority to sue on behalf of the limited liability company under section 1 of this chapter may not be asserted for the following:
(1) As a defense to an action brought by the limited liability company.
(2) As a basis for the limited liability company to bring a subsequent suit on the same cause of action.
Official source: Indiana General Assembly. Reproduced from public-domain Indiana statutes; confirm against the official source for the current text. Not legal advice.