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The Vermont Statutes Online
Title
11
:
Corporations, Partnerships and Associations
Chapter
021
:
LIMITED LIABILITY COMPANIES
Subchapter
002
:
ORGANIZATION
[Section 3032 repealed effective July 1, 2016.]
[Section 3032 repealed effective July 1,
2016.]
§
3032. When property is limited liability company property
(a) Property is
limited liability company property if acquired in the name of:
(1) the limited
liability company; or
(2) one or more
members with an indication in the instrument transferring title to the property
of the person's capacity as a member or of the existence of a limited liability
company, but without an indication of the name of the limited liability
company.
(b) Property is
presumed to be limited liability company property if purchased with limited
liability company assets, even if not acquired in the name of the limited
liability company or of one or more members with an indication in the
instrument transferring title to the property of the person's capacity as a
member or of the existence of a limited liability company.
(c) Property
acquired in the name of one or more of the members, without an indication in
the instrument transferring title to the property of the person's capacity as a
member or of the existence of a limited liability company and without use of
limited liability company assets, is presumed to be separate property, even if
used for limited liability company purposes. (Added 1995, No. 179 (Adj. Sess.),
§ 4.)