§ 29-3501 – Nature of transferable interest

29-3501. Nature of transferable interest A transferable interest is personal property.

§ 29-3502 – Transfer of transferable interest

29-3502. Transfer of transferable interest A. A transfer, in whole or in part, of a transferable interest: 1. Is permissible. 2. Does not by itself cause a person’s dissociation as a member or a dissolution and winding up of the limited liability company’s activities and affairs. 3. Subject to section 29-3504, does not entitle the […]

§ 29-3503 – Charging order

29-3503. Charging order A. On application by a judgment creditor of a member or transferee, a court may enter a charging order against the transferable interest of the judgment debtor for the unsatisfied amount of the judgment. A charging order requires the limited liability company to pay over to the person to which the charging […]

§ 29-3504 – Power of legal representative of deceased member

29-3504. Power of legal representative of deceased member If a member dies, the deceased member’s legal representative may exercise both of the following: 1. The rights of a transferee provided in section 29-3502, subsection C. 2. For the purposes of settling the estate, the rights the deceased member had under section 29-3410.