A manager may conduct a transaction with the limited liability company on his/her own account or on the account of a third party only when he/she has obtained resolution by a majority of all the other members. In such cases, the provisions of Article 124 of the Civil Act shall not apply.[This Article Newly Inserted by Act No. 10600, Apr. 14, 2011]
Laws › Commercial Act › SECTION 2 Internal Relationship of Limited Liability
Commercial Act — Article 287-11 (Transactions between Managers and Limited Liability Company)
상법 제287조의11
This English translation is based on the Korean text effective 2018-12-19. The Korean law has since been amended (current version effective 2026-09-10) — check the Korean original.
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