(1) A person knows a fact when the person: (a) Has actual knowledge of it; or (b) Is deemed to know it under subsection (4)(a) of this section or law other than this chapter. (2) A person has notice of a fact when the person: (a) Has reason to know the fact from all of the facts known to the person at the time in question; or (b) Is deemed to have notice of the fact under subsection (4)(b) of this section; (3) A person notifies another of a fact by taking steps reasonably required to inform the other person in ordinary course, whether or not the other person knows the fact. (4) A person that is not a member is deemed: (a) To know of a limitation on authority to transfer real property as provided in section 30-6-302 (7), Idaho Code; and (b) To have notice of a limited liability company's: (i) Dissolution, ninety (90) days after a statement of dissolution under section 30-6-702 (2)(b)(i), Idaho Code, becomes effective; (ii) Termination, ninety (90) days after a statement of termination under section 30-6-702 (2)(b)(vi), Idaho Code, becomes effective; and (iii) Merger, conversion or domestication, ninety (90) days after articles of merger, conversion or domestication under part 10 of this chapter become effective.
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