Vermont § 4053 - Member’s liability for contributions
Full text of Vermont Vermont Statutes Online § 4053 — Member’s liability for contributions, with citation guidance and answers to common questions.
§ 4053. Member’s liability for contributions
- (a) A person’s obligation to make a contribution to a limited liability company is not
excused by the member’s death, disability, or other inability to perform personally.
If a person does not make the required contribution, the person’s estate is obligated
at the option of the company to contribute money equal to that portion of the value
of the part of the contribution which has not been made. (b) A creditor of a limited liability company who extends credit or otherwise acts in
reliance on an obligation described in subsection (a) of this section, and without
notice of any compromise under subdivision 4054(d)(4) of this title, may enforce the original obligation. (Added 2015, No. 17, § 2.)
Frequently Asked Questions About Vermont § 4053
What does Vermont Statutes Online § 4053 cover?
Section 4053 ("Member’s liability for contributions") is part of the Vermont Statutes Online, the codified statutory law of Vermont. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Vermont § 4053?
A common citation format is "Vermont Statutes Online § 4053" (Vermont). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Vermont law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Vermont official source linked on this page or consult a licensed Vermont attorney.
How does Vermont § 4053 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Vermont can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Vermont.