183.0701 Ownership of limited liability company property.
(1) All property originally transferred to or subsequently acquired by or on account of a limited liability company is property of the limited liability company and not of the members individually.
(2) Property acquired with limited liability company funds is presumed to be limited liability company property.
(3) Property may be acquired, held and conveyed in the name of a limited liability company. Any interest in real property may be acquired in the name of a limited liability company and title to any interest so acquired shall vest in the limited liability company rather than in the members individually.
History: 1993 a. 112.