The Florida Senate

608.425  Limited liability company property.--

(1)  All property originally contributed to the limited liability company or subsequently acquired by a limited liability company by purchase or otherwise is limited liability company property.

(2)  Unless otherwise provided in the articles of organization or the regulations, property acquired with limited liability company funds is limited liability company property.

(3)  Instruments and documents providing for the acquisition, mortgage, or disposition of property of the limited liability company shall be valid and binding upon the company, if they are executed by the persons authorized in the articles of organization or the regulations to execute such documents on behalf of the limited liability company, or, if the articles of organization or the regulations do not provide for the execution of such documents, one or more managers of a limited liability company having a manager or managers, or one or more members of a limited liability company in which management has been retained in the members.

History.--s. 2, ch. 82-177; s. 62, ch. 83-216; s. 28, ch. 93-284.