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Searching 2019-2020 Session

The Vermont Statutes Online

 

Title 11 : Corporations, Partnerships and Associations

Chapter 025 : LIMITED LIABILITY COMPANIES

Subchapter 002 : ORGANIZATION

(Cite as: 11 V.S.A. § 4032)
  • § 4032. When property is limited liability company property

    (a) Property is limited liability company property if acquired in the name of:

    (1) the limited liability company; or

    (2) one or more members with an indication in the instrument transferring title to the property of the person's capacity as a member or of the existence of a limited liability company, but without an indication of the name of the limited liability company.

    (b) Property is presumed to be limited liability company property if purchased with limited liability company assets, even if not acquired in the name of the limited liability company or of one or more members with an indication in the instrument transferring title to the property of the person's capacity as a member or of the existence of a limited liability company.

    (c) Property acquired in the name of one or more of the members, without an indication in the instrument transferring title to the property of the person's capacity as a member or of the existence of a limited liability company and without use of limited liability company assets, is presumed to be separate property, even if used for limited liability company purposes. (Added 2015, No. 17, § 2.)