§ 7-16-68. Limited-liability company property. Real and personal property owned, purchased, or leased by a limited-liability company shall be held, owned, and conveyed in the limited-liability company name. Instruments and documents providing for the acquisition, mortgage or disposition of property of the limited-liability company are valid and binding on the limited-liability company if executed by one or more managers of a limited-liability company having a manager or managers or one or more members of a limited-liability company in which management has been retained in the members.
History of Section. (P.L. 1992, ch. 280, § 1; P.L. 1993, ch. 171, § 1.)
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