HB4209 HFIN AM
The Committee on Finance moves to amend the bill on page two, section one, line five, following the word "authorized", by inserting a comma and the following:
"with the amendment set forth below:
On page four, subdivision 5.3.b, at the beginning of the second line of the subdivision, by striking the words "limited liability company";
On page four, following subsection 5.3.b, by inserting a new subsection 5.3.c as follows and relettering the remaining subdivisions:
"5.3.c. When the lessor is a limited liability company which is member managed, any member authorized to bind the limited liability company shall execute the lease. When the lessor is a limited liability company which is manager managed, the manager shall execute the lease on behalf of the limited liability company.";
On page six, subdivision 9.8.a, at the beginning of the second line of the subdivision, by striking the words "limited liability company"; and
On page six, following subdivision 9.8.a, by inserting a new subdivision 9.8.a as follows and relettering the remaining subdivisions:
"9.8.a. When the seller is a limited liability company which is member managed, any member authorized to bind the limited liability company shall execute the contract. When the seller is a limited liability company which is manager managed, the manager shall execute the contract on behalf of the limited liability company.".