§1503. Knowledge; notice
1.
Knows.
A person knows a fact when the person:
A.
Has actual knowledge of it; or
[PL 2009, c. 629, Pt. A, §2 (NEW); PL 2009, c. 629, Pt. A, §3 (AFF).]
B.
Is deemed to know it under law other than this chapter.
[PL 2009, c. 629, Pt. A, §2 (NEW); PL 2009, c. 629, Pt. A, §3 (AFF).]
[PL 2009, c. 629, Pt. A, §2 (NEW); PL 2009, c. 629, Pt. A, §3 (AFF).]
2.
Notice.
A person has notice of a fact when the person:
A.
Knows of it;
[PL 2009, c. 629, Pt. A, §2 (NEW); PL 2009, c. 629, Pt. A, §3 (AFF).]
B.
Receives notification of it;
[PL 2009, c. 629, Pt. A, §2 (NEW); PL 2009, c. 629, Pt. A, §3 (AFF).]
C.
Has reason to know the fact from all of the facts known to the person at the time in question; or
[PL 2009, c. 629, Pt. A, §2 (NEW); PL 2009, c. 629, Pt. A, §3 (AFF).]
D.
Is deemed to have notice of the fact under subsection 4.
[PL 2009, c. 629, Pt. A, §2 (NEW); PL 2009, c. 629, Pt. A, §3 (AFF).]
[PL 2009, c. 629, Pt. A, §2 (NEW); PL 2009, c. 629, Pt. A, §3 (AFF).]
3.
Notifies.
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.
[PL 2009, c. 629, Pt. A, §2 (NEW); PL 2009, c. 629, Pt. A, §3 (AFF).]
4.
Nonmember; notice.
A person that is not a member is deemed to have notice of a limited liability company's:
A.
Matters included in the certificate of formation under section 1531, subsection 1, paragraph A, upon filing;
[PL 2011, c. 113, Pt. A, §5 (AMD).]
B.
Termination, 90 days after a certificate of cancellation under section 1533 becomes effective;
[PL 2009, c. 629, Pt. A, §2 (NEW); PL 2009, c. 629, Pt. A, §3 (AFF).]
C.
Merger or conversion, 90 days after a statement of merger or statement of conversion under subchapter 12 becomes effective; and
[PL 2009, c. 629, Pt. A, §2 (NEW); PL 2009, c. 629, Pt. A, §3 (AFF).]
D.
Revival, 90 days after a certificate of revival under section 1604 becomes effective.
[PL 2009, c. 629, Pt. A, §2 (NEW); PL 2009, c. 629, Pt. A, §3 (AFF).]
[PL 2011, c. 113, Pt. A, §5 (AMD).]
5.
Member; knowledge, notice or receipt of notification.
A member's knowledge, notice or receipt of a notification of a fact relating to the limited liability company is not knowledge, notice or receipt of a notification of a fact by the limited liability company solely by reason of the member's capacity as a member.
[PL 2009, c. 629, Pt. A, §2 (NEW); PL 2009, c. 629, Pt. A, §3 (AFF).]
SECTION HISTORY
PL 2009, c. 629, Pt. A, §2 (NEW). PL 2009, c. 629, Pt. A, §3 (AFF). PL 2011, c. 113, Pt. A, §5 (AMD).