Effect of operating agreement; nonwaivable provisions

HRS §428-103 — under Chapter 428.

HRS §428-103

§428-103 Effect of operating agreement; nonwaivable provisions. (a) Except as provided in subsection (b), all the members of a limited liability company may enter into an operating agreement to regulate the affairs of the company and the conduct of its business, and to govern relations among the members, managers, and company. To the extent the operating agreement does not otherwise provide, this chapter governs relations among the members, managers, and company.

(b) The operating agreement may not: