(a) A person becomes a member of a limited liability company at: (1) The time the limited liability company is formed; (2) A later time specified in the operating agreement; or (3) The time specified in § 4A–902(b) of this title relating to continuation of the limited liability company after there are no remaining members. (b) After the formation of […]
A membership interest in a limited liability company is personal property.
(a) Unless otherwise agreed: (1) Only an economic interest in a limited liability company may be assigned; and (2) An economic interest is wholly or partly assignable. (b) An assignment of an economic interest in a limited liability company does not: (1) Dissolve the limited liability company; or (2) Entitle the assignee to: (i) Become a member; or (ii) Exercise any rights of […]
(a) An assignee of an economic interest in a limited liability company may become a member of the limited liability company under any of the following circumstances: (1) In accordance with the terms of the operating agreement providing for the admission of a member; (2) By the unanimous consent of the members; or (3) If there are no remaining […]
(a) Unless otherwise agreed, a member may withdraw from a limited liability company prior to the dissolution and winding up of the limited liability company by giving not less than 6 months’ prior written notice to the other members at their respective addresses as shown on the books and records of the limited liability company. (b) The […]
Unless otherwise agreed, a person ceases to be a member of a limited liability company upon the occurrence of any of the following events: (1) The person withdraws from the limited liability company as authorized by § 4A–605 of this subtitle; (2) The person is removed as a member in accordance with the operating agreement; (3) The person: […]
(a) Unless otherwise agreed, if a person ceases to be a member of a limited liability company under § 4A–606 of this subtitle, and the limited liability company is not dissolved as a result, then, within a reasonable time after the person ceased to be a member, the limited liability company may elect to pay the […]
(a) (1) In this section the following words have the meanings indicated. (2) “Creditor” means a person for whom a court may issue an attachment under Title 3, Subtitle 3 of the Courts Article. (3) “Debtor” means a person whose property or credits are subject to attachment under Title 3, Subtitle 3 of the Courts Article. (b) (1) On application by […]
