Determination of lack of authority to sue; prohibited assertions

Sec. 2. A determination that a member or manager does not have authority to sue on behalf of the limited liability company under section 1 of this chapter may not be asserted for the following: (1) As a defense to an action brought by the limited liability company. (2) As a basis for the limited liability company to bring a subsequent suit on the same cause of action. As added by P.L.8-1993, SEC.301.