Source: https://code.dccouncil.us/dc/council/code/sections/29-804.03.html
Timestamp: 2019-04-19 02:44:03+00:00

Document:
D.C. Law Library - § 29–804.03. Liability for contributions.
↪ Chapter 8. Limited Liability Companies.
↪ Subchapter IV. Relations of Members to Each Other and to Limited Liability Company.
↪ § 29–804.03. Liability for contributions.
§ 29–804.02. Form of contribution.
§ 29–804.04. Sharing of and right to distributions before dissolution.
§ 29–804.03. Liability for contributions.
(a) A person’s obligation to make a contribution to a limited liability company shall not be excused by the person’s death, disability, or other inability to perform personally. If a person does not fulfill an obligation, other than a monetary obligation, the person is obligated to contribute money equal to the value of the part of the contribution which has not been made, at the option of the company.
(b) The obligation of a person to make a contribution may be compromised only by consent of all members. A creditor of a limited liability company which extends credit or otherwise acts in reliance on an obligation described in subsection (a) of this section without notice of a compromise under this subsection may enforce the obligation.
This section is referenced in § 29-805.02.
The 2013 amendment by D.C. Law 19-210 rewrote the section.
Uniform Law: This section is based on § 403 of the Uniform Limited Company Act (2006 Act).
Application of Law 19-210: Section 7 of D.C. Law 19-210 provided that the act shall apply as of January 1, 2012.

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 § 403