30-25-110. APPLICATION TO EXISTING RELATIONSHIPS. (a) Before July 1, 2017, this chapter governs only:
(1) A limited liability company formed on or after July 1, 2015; and
(2) Except as otherwise provided in subsection (c) of this section, a limited liability company formed before July 1, 2015, that elects, in the manner provided in its operating agreement or by law for amending the operating agreement, to be subject to this chapter.
(b) Except as otherwise provided in subsection (c) of this section, on and after July 1, 2017, this chapter governs all limited liability companies.
(c) For purposes of applying this chapter to a limited liability company formed before July 1, 2008:
(1) The company’s articles of organization are deemed to be the company’s certificate of organization; and
(2) For purposes of applying section 30-25-102(10), Idaho Code, and subject to section 30-25-107(d), Idaho Code, language in the company’s articles of organization designating the company’s management structure operates as if that language were in the operating agreement.
History:
[30-25-110, added 2015, ch. 243, sec. 43, p. 875.]
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