reglab/housing_qa huggingface dataset:
MD. Corporations and Associations Code Ann. §  4A-302 (2021)
2021 Maryland Statutes|Corporations and Associations|Title 4A - Limited Liability Company Act|Subtitle 3 - Relations of Limited Liability Company and Members to Third Persons|Section 4A-302 - Parties to Actions

    A member of a limited liability company is not a proper party to a proceeding by or against a limited liability company, solely by reason of being a member of the limited liability company, except:         (1)    Where the object of the proceeding is to enforce a member’s right against or liability to the limited liability company; or        (2)    As provided in Subtitle 8 of this title.
MD. Corporations and Associations Code Ann. §  4A-303 (2021)
2021 Maryland Statutes|Corporations and Associations|Title 4A - Limited Liability Company Act|Subtitle 3 - Relations of Limited Liability Company and Members to Third Persons|Section 4A-303 - Limited Liability Company Property

    (a)    Real and personal property owned or purchased by a limited liability company may be acquired in the name of the limited liability company.    (b)    An instrument or document for the acquisition, mortgage, or disposition of property of the limited liability company shall be valid and binding upon the limited liability company if executed by 1 or more authorized persons.
MD. Corporations and Associations Code Ann. §  4A-401 (2021)
2021 Maryland Statutes|Corporations and Associations|Title 4A - Limited Liability Company Act|Subtitle 4 - Relationship of Members to Each Other|Section 4A-401 - Member as Agent of Company

    (a)    (1)    Except as provided in paragraph (3) of this subsection or in the operating agreement, each member is an agent of the limited liability company for the purpose of its business.        (2)    Except as provided in paragraph (3) of this subsection, the act of each member, including the execution in the name of the limited liability company of any instrument, for apparently carrying on in the usual way the business of the limited liability company of which the person is a member, binds the limited liability company, unless:            (i)    The member so acting has in fact no authority to act for the limited liability company in the particular matter; and            (ii)    The person with whom the member is dealing has actual knowledge of the fact that the member has no such authority.        (3)    If the articles of organization contain a statement that the authority of members to act for the limited liability company solely by virtue of their being members is limited:            (i)    No member of the limited liability company is an agent of the limited liability company solely by virtue of being a member, and no member has authority to act for the limited liability company solely by virtue of being a member; and            (ii)    Each person dealing with a member is presumed to have knowledge that the member has no authority to act for the limited liability company solely by virtue of being a member.    (b)    Notwithstanding a statement in the articles of organization or the operating agreement that the authority of a member to act for the limited liability company solely by virtue of being a member is limited, a person dealing with a member may establish:        (1)    That the member is an agent of the limited liability company; or        (2)    That the limited liability company should be estopped from denying that the member was its agent.    (c)    Unless the act of a member is authorized by the limited liability company, the act of a member that is not apparently for the carrying on of the business of the limited liability company in the usual way does not bind the limited liability company.
MD. Corporations and Associations Code Ann. §  4A-403 (2021)
2021 Maryland Statutes|Corporations and Associations|Title 4A - Limited Liability Company Act|Subtitle 4 - Relationship of Members to Each Other|Section 4A-403 - Voting; Meetings; Actions

    (a)    The provisions of this section apply unless otherwise provided in this title or unless otherwise agreed.    (b)    (1)    Members shall vote in proportion to their respective interests in profits of the limited liability company, as determined under § 4A–503 of this title.        (2)    Decisions concerning the affairs of the limited liability company shall require the consent of members holding at least a majority of the interests in profits of the limited liability company as determined under § 4A–503 of this title.    (c)    (1)    A meeting of the members may be called by the written request of members holding at least 25% of the interests in profits of the limited liability company as determined under § 4A–503 of this title.        (2)    (i)    Members of a limited liability company may participate in a meeting by means of conference telephone or other communications equipment or by means of remote communication, if all persons participating in the meeting:                1.    Can either hear or read the proceedings of the meeting substantially concurrent with the proceedings; and                2.    Have the opportunity to participate in the meeting and vote on matters submitted to the members.            (ii)    Participation in a meeting by the means authorized by subparagraph (i) of this paragraph constitutes presence in person at the meeting.    (d)    (1)    A member may not take any of the following actions without the consent of members holding at least two–thirds of the interest in profits of the limited liability company as determined under § 4A–503 of this title:            (i)    Dispose of all or substantially all of the business or property of the limited liability company;            (ii)    Approve a merger as provided in § 4A–702 of this title; or            (iii)    Approve a conversion as provided in § 4A–1102 of this title.        (2)    A member may not take any of the following actions without the unanimous consent of the members:            (i)    Institute a voluntary proceeding under the federal bankruptcy code;            (ii)    Assign the property of the limited liability company in trust for creditors or on the assignee’s promise to pay the debts of the limited liability company;            (iii)    Alter the allocation of profit or loss to members of the limited liability company;            (iv)    Alter the allocation of or the manner of computing distributions payable to members of the limited liability company; or            (v)    Do any other act that would make it impossible to carry on the ordinary business of the limited liability company.
MD. Corporations and Associations Code Ann. §  4A-403.1 (2021)
2021 Maryland Statutes|Corporations and Associations|Title 4A - Limited Liability Company Act|Subtitle 4 - Relationship of Members to Each Other|Section 4A-403.1 - Electronic Transmission of Communications

    Any notice, consent, or other communication required or authorized by this title may be delivered by electronic transmission.
MD. Corporations and Associations Code Ann. §  4A-403.2 (2021)
2021 Maryland Statutes|Corporations and Associations|Title 4A - Limited Liability Company Act|Subtitle 4 - Relationship of Members to Each Other|Section 4A-403.2 - Proxy

    (a)    (1)    A member may authorize another person to act as proxy for the member as provided in this section.        (2)    (i)    A member may sign a writing authorizing another person to act as proxy.            (ii)    Signing may be accomplished by the member or the member’s authorized agent signing the writing or causing the member’s signature to be affixed to the writing by any reasonable means, including facsimile signature.        (3)    (i)    Subject to subparagraph (ii) of this paragraph, a member may authorize another person to act as proxy by transmitting, or authorizing  the transmission of, an authorization for the person to act as proxy to:                1.    The person authorized to act as proxy; or                2.    Any other person authorized to receive the proxy authorization on behalf of the person authorized to act as the proxy, including a proxy solicitation firm or proxy support service organization.            (ii)    The authorization may be transmitted by a telegram, cablegram, datagram, electronic mail, or any other electronic or telephonic means.        (4)    A copy, facsimile telecommunication, or other reliable reproduction of the writing or transmission authorized under paragraphs (2) and (3) of this subsection may be substituted for the original writing or transmission for any purpose for which the original writing or transmission could be used.    (b)    (1)    A proxy is revocable by a member at any time without condition or qualification unless:            (i)    The proxy states that it is irrevocable; and            (ii)    The proxy is coupled with an interest.        (2)    A proxy may be made irrevocable for as long as it is coupled with an interest.        (3)    An interest with which a proxy may be coupled includes an interest in the membership interest to be voted under the proxy or another general interest in the limited liability company or its assets or liabilities.
MD. Corporations and Associations Code Ann. §  4A-404 (2021)
2021 Maryland Statutes|Corporations and Associations|Title 4A - Limited Liability Company Act|Subtitle 4 - Relationship of Members to Each Other|Section 4A-404 - Unanimous Consent of Members

    Wherever this title requires the unanimous consent of the members to allow the limited liability company to act:        (1)    The consent shall be in writing; and        (2)    The operating agreement may provide that:            (i)    1.    The action may be taken on consent of less than all of the members;                2.    The consent of certain members or classes of members is not required to take the action; or                3.    No consent of a member or members is required to take the action; and            (ii)    The action may be taken only with the consent of one or more persons who is or are not a member or members of the limited liability company, in which case the consent of that person or those persons shall be required in order for the limited liability company to take the action.
MD. Corporations and Associations Code Ann. §  4A-405 (2021)
2021 Maryland Statutes|Corporations and Associations|Title 4A - Limited Liability Company Act|Subtitle 4 - Relationship of Members to Each Other|Section 4A-405 - Business Transactions of Member With Limited Liability Company

    Unless otherwise agreed, a member may lend money to and transact other business with the limited liability company and has the same rights and obligations with respect to the transaction as a person who is not a member.
MD. Corporations and Associations Code Ann. §  4A-406 (2021)
2021 Maryland Statutes|Corporations and Associations|Title 4A - Limited Liability Company Act|Subtitle 4 - Relationship of Members to Each Other|Section 4A-406 - Information Regarding Affairs of Limited Liability Company

    (a)    A member may inspect and copy, in person or by agent, from time to time on reasonable written demand, for any purpose reasonably related to the member’s membership interest:        (1)    True and full information regarding the state of the business and financial condition of the limited liability company;        (2)    A copy of the articles of organization and operating agreement and all amendments to the articles of organization and operating agreement;        (3)    A current list of the names and last known business, residence, or mailing addresses of all members; and        (4)    Other information regarding the affairs of the limited liability company as is just and reasonable for any purpose reasonably related to the member’s membership interest.    (b)    Any member may inspect and copy, in person or by agent, a copy of the limited liability company’s federal, state, or local income tax returns.    (c)    The rights to inspect and copy records of a limited liability company may be subject to reasonable standards that may be set forth in the articles of organization or the operating agreement, including standards governing what information and documents are to be furnished, at what time and location, and at whose expense.    (d)    Unless a member seeking information executes a confidentiality or nondisclosure agreement reasonably acceptable to the limited liability company restricting the use and disclosure of the information, a limited liability company shall have the right to keep confidential from members, for a reasonable period of time:        (1)    Any information that the limited liability company reasonably believes to be in the nature of trade secrets;        (2)    Information the disclosure of which the limited liability company in good faith believes:            (i)    Is not in the best interest of the limited liability company; or            (ii)    Could damage the limited liability company or its business; or        (3)    Information the limited liability company is required by law or by agreement with a third party to keep confidential.    (e)    Any demand by a member under this section shall be in writing and shall state the purpose of the demand.
MD. Corporations and Associations Code Ann. §  4A-501 (2021)
2021 Maryland Statutes|Corporations and Associations|Title 4A - Limited Liability Company Act|Subtitle 5 - Finance|Section 4A-501 - Capital Contributions

    The capital contribution of a member to a limited liability company may be in cash, property, services rendered, or a promissory note or other binding obligation to contribute cash or property or to perform services.
MD. Corporations and Associations Code Ann. §  4A-502 (2021)
2021 Maryland Statutes|Corporations and Associations|Title 4A - Limited Liability Company Act|Subtitle 5 - Finance|Section 4A-502 - Liability for Capital Contribution

    (a)    (1)    Unless otherwise agreed, a member is obligated to the limited liability company to perform any promises set forth in the articles of organization or operating agreement to contribute cash or property or to perform services, even if the member is unable to perform because of death, disability, or other reason.        (2)    If a member does not make the required contribution of property or services, the member is obligated, at the option of the limited liability company, to contribute cash equal to the value of that portion of the capital contribution that has not been made.    (b)    (1)    The obligation of a member to make a capital contribution or return money or other property paid or distributed in violation of this title may be compromised only:            (i)    In compliance with the operating agreement; or            (ii)    If the operating agreement does not so provide, with the unanimous consent of the members.        (2)    Any compromise does not affect the rights, if any, of any creditor of a limited liability company to enforce the obligation or to require the obligation to be enforced.    (c)    (1)    An operating agreement may provide that a member who fails to make any capital contribution or other payment that the member is required to make shall be subject to specified remedies for, or specified consequences of, the failure.        (2)    The remedy or consequence may take the form of:            (i)    Reduction of the defaulting member’s membership interest in the limited liability company;            (ii)    Subordination of the defaulting member’s membership interest in the limited liability company to that of the nondefaulting members;            (iii)    A forced sale of the defaulting member’s membership interest in the limited liability company;            (iv)    Forfeiture of the defaulting member’s membership interest in the limited liability company;            (v)    A loan by the nondefaulting members of the amount necessary to meet the commitment;            (vi)    A determination of the value of the member’s membership interest in the limited liability company by appraisal or by formula and redemption and sale of the defaulting member’s membership interest in the limited liability company at that value; or            (vii)    Any other remedy or consequences.
MD. Corporations and Associations Code Ann. §  4A-503 (2021)
2021 Maryland Statutes|Corporations and Associations|Title 4A - Limited Liability Company Act|Subtitle 5 - Finance|Section 4A-503 - Sharing of Profits and Losses; Distributions

    Unless otherwise agreed:        (1)    The profits and losses of a limited liability company shall be allocated among the members in proportion to their respective capital contribution values; and        (2)    Distributions by the limited liability company shall be made to the members in proportion to their right to share in the profits of the limited liability company.
MD. Corporations and Associations Code Ann. §  4A-504 (2021)
2021 Maryland Statutes|Corporations and Associations|Title 4A - Limited Liability Company Act|Subtitle 5 - Finance|Section 4A-504 - Distribution in Kind

    Unless otherwise agreed, a member, regardless of the nature of the member’s contribution, has no right to demand and receive any distribution from a limited liability company in a form other than cash.
MD. Corporations and Associations Code Ann. §  4A-505 (2021)
2021 Maryland Statutes|Corporations and Associations|Title 4A - Limited Liability Company Act|Subtitle 5 - Finance|Section 4A-505 - Status of Creditor

    Unless otherwise agreed, a member of a limited liability company who becomes entitled to receive a distribution has the status of, and is entitled to all remedies available to, a creditor of the limited liability company with respect to the distribution.
MD. Corporations and Associations Code Ann. §  4A-601 (2021)
2021 Maryland Statutes|Corporations and Associations|Title 4A - Limited Liability Company Act|Subtitle 6 - Membership|Section 4A-601 - Admission of Members

    (a)    A person becomes a member of a limited liability company at:        (1)    The time the limited liability company is formed;        (2)    A later time specified in the operating agreement; or        (3)    The time specified in § 4A–902(b) of this title relating to continuation of the limited liability company after there are no remaining members.    (b)    After the formation of a limited liability company, a person may be admitted as a member:        (1)    In the case of a person acquiring a membership interest directly from the limited liability company, upon compliance with the operating agreement or, if the operating agreement does not so provide, upon the unanimous consent of the members;        (2)    In the case of an assignee of the economic interest of a member, only as provided in § 4A–604 of this subtitle; or        (3)    In the case of a successor to the last remaining member who is not an assignee of the last remaining member, as provided in § 4A–902(b) of this title.    (c)    Unless otherwise agreed, a person may be admitted as a member of a limited liability company and may be the sole member of a limited liability company without:        (1)    Making a capital contribution to the limited liability company;        (2)    Being obligated to make a capital contribution to the limited liability company; or        (3)    Acquiring an economic interest in the limited liability company.
MD. Corporations and Associations Code Ann. §  4A-602 (2021)
2021 Maryland Statutes|Corporations and Associations|Title 4A - Limited Liability Company Act|Subtitle 6 - Membership|Section 4A-602 - Interest in Limited Liability Company

    A membership interest in a limited liability company is personal property.
MD. Corporations and Associations Code Ann. §  4A-603 (2021)
2021 Maryland Statutes|Corporations and Associations|Title 4A - Limited Liability Company Act|Subtitle 6 - Membership|Section 4A-603 - Assignment of Interest

    (a)    Unless otherwise agreed:        (1)    Only an economic interest in a limited liability company may be assigned; and        (2)    An economic interest is wholly or partly assignable.    (b)    An assignment of an economic interest in a limited liability company does not:        (1)    Dissolve the limited liability company; or        (2)    Entitle the assignee to:            (i)    Become a member; or            (ii)    Exercise any rights of a member, including the noneconomic interest of the assignor.    (c)    If an assignee of an economic interest in a limited liability company becomes a member of the limited liability company, the assignor is not released from the assignor’s liability under § 4A–502 of this title to the limited liability company.    (d)    On assignment of all of a member’s economic interest in a limited liability company, the member ceases to be a member of the limited liability company and forfeits the member’s noneconomic interest in the limited liability company.    (e)    The pledge or grant of a security interest, lien, or other encumbrance in or against all or a part of the economic interest of a member does not cause the member to cease to be a member or affect the member’s noneconomic interest in the limited liability company.
MD. Corporations and Associations Code Ann. §  4A-604 (2021)
2021 Maryland Statutes|Corporations and Associations|Title 4A - Limited Liability Company Act|Subtitle 6 - Membership|Section 4A-604 - Right of Assignee to Become a Member

    (a)    An assignee of an economic interest in a limited liability company may become a member of the limited liability company under any of the following circumstances:        (1)    In accordance with the terms of the operating agreement providing for the admission of a member;        (2)    By the unanimous consent of the members; or        (3)    If there are no remaining members of the limited liability company at the time the assignee obtains the economic interest, on terms that the assignee may determine in accordance with § 4A–902(b)(1)(i) of this title.    (b)    An assignee who becomes a member:        (1)    Has, to the extent assigned, the rights and powers, and is subject to the restrictions and liabilities, of a member under the operating agreement and this title; and        (2)    Is liable for any obligations of his assignor to make capital contributions.
MD. Corporations and Associations Code Ann. §  4A-605 (2021)
2021 Maryland Statutes|Corporations and Associations|Title 4A - Limited Liability Company Act|Subtitle 6 - Membership|Section 4A-605 - Withdrawal of Member

    (a)    Unless otherwise agreed, a member may withdraw from a limited liability company prior to the dissolution and winding up of the limited liability company by giving not less than 6 months’ prior written notice to the other members at their respective addresses as shown on the books and records of the limited liability company.    (b)    The operating agreement may provide that a member may not withdraw or otherwise place limits on the ability of a member to withdraw.