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- Alaska Statutes.
- Title 10. Corporations and Associations
- Chapter 50. Alaska Revised Limited Liability Company Act
- Section 280. Liability For Contributions.
previous: Section 275
. Consideration For Company Interests.
next: Section 285
. Compromise of Contribution Obligation.
AS 10.50.280. Liability For Contributions.
- (a) Notwithstanding AS 09.25.010
- 09.25.020, a promise by a member of a limited
liability company to contribute property or services to the company is not enforceable unless the promise is stated in
a writing signed by the member.
- (b) Unless otherwise provided in an operating agreement of the company, a member of a limited liability company is liable
for performing an enforceable promise made to the company to contribute property or services, even if the member is
unable to perform because of death, disability, or another reason.
- (c) If a member of a limited liability company does not make the member's required contribution of property or services,
the member shall, at the option of the company, contribute cash equal to that portion of value of the required
contribution that has not been made.
- (d) Unless otherwise provided in an operating agreement of the company, an assignor of a limited liability company
interest is not released from the assignor's liability to the company under this section, even if the assignee becomes
a member with respect to the assigned interest.
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