Sec. 183.203. CONTRACTING FOR DEBT OR OBLIGATION. Except as provided by this section or the certificate of formation of the limited trust association, a debt, liability, or other obligation may be contracted for or incurred on behalf of a limited trust association only by: (1) a majority of the managers, if management of the limited trust association has been vested in a board of managers; (2) a majority of the managing participants; or (3) an officer or other agent vested with actual or apparent authority to contract for or incur the debt, liability, or other obligation.
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