Section 63.239 – Nature of membership interest.
A membership interest is personal property. A member is not a co-owner of and has no interest in specific limited liability company property. [1993 c.173 §48]
Section 63.245 – Admission of members.
(1) A person becomes a member of a limited liability company on the later of: (a) The date the initial articles of organization are filed; or (b) The date stated in the records of the limited liability company as the date the person becomes a member. (2) After the filing of the limited liability company’s […]
Section 63.249 – Assignment of membership interest; effect of assignment.
Except as provided in the articles of organization or any operating agreement: (1) A membership interest is assignable in whole or in part. (2) An assignment of a membership interest does not itself dissolve the limited liability company. (3) Until the assignee of a membership interest becomes a member with respect to the interest, the […]
Section 63.255 – Rights of assignee who becomes member.
(1) An assignee who becomes a member as to the assigned interest has the rights and powers, and is subject to the restrictions and liabilities, of a member under this chapter, the articles of organization and any operating agreement. An assignee who becomes a member also is liable for any obligations of the assignee’s assignor […]
Section 63.259 – Rights of judgment creditor against member.
On application to a court of competent jurisdiction by any judgment creditor of a member, the court may charge the membership interest of the member with payment of the unsatisfied amount of the judgment with interest. To the extent so charged, the judgment creditor has only the rights of an assignee of the membership interest. […]
Section 63.265 – Cessation of membership.
Except as otherwise provided in the articles of organization or any operating agreement: (1) A member shall cease to be a member in a limited liability company upon the member’s death, incompetency, bankruptcy, dissolution, withdrawal, expulsion or assignment of the member’s entire membership interest. (2)(a) Except as otherwise provided in paragraph (b) of this subsection, […]