Section 42:2C-3 - Knowledge; notice.

NJ Rev Stat § 42:2C-3 (2019) (N/A)

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42:2C-3 Knowledge; notice.

3. Knowledge; Notice.

a. A person knows a fact when the person:

(1) has actual knowledge of it; or

(2) is deemed to know it under paragraph (1) of subsection d. of this section or law other than this act.

b. 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 paragraph (2) of subsection d. of this section.

c. 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.

d. A person that is not a member is deemed:

(1) to know of a limitation on authority to transfer real property as provided in subsection g. of section 28 of this act; and

(2) to have notice of a limited liability company's:

(a) dissolution, 90 days after a certificate of dissolution, pursuant to subparagraph (a) of paragraph (2) of subsection b. of section 49 of this act becomes effective;

(b) termination, 90 days after a statement of termination, pursuant to subparagraph (f) of paragraph (2) of subsection b. of section 49 of this act becomes effective; and

(c) merger, conversion, or domestication, 90 days after articles of merger, conversion, or domestication under Article 10 (sections 73 through 87 of this act) become effective.

L.2012, c.50, s.3.

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