Section 10A-5A-5.01 Member’s transferable interest. The only interest of a member that is transferable is the member’s transferable interest. A transferable interest is personal property. (Act 2014-144, p. 265, §1.)
Section 10A-5A-5.02 Transfer of transferable interest. (a) A transfer, in whole or in part, of a transferable interest: (1) is permissible; (2)(A) does not by itself cause a member to cease to be a member of the limited liability company; and (B) does not by itself cause a member to cease to be associated with […]
Section 10A-5A-5.03 Charging order. (a) On application to a court of competent jurisdiction by any judgment creditor of a member or transferee, the court may charge the transferable interest of the judgment debtor with payment of the unsatisfied amount of the judgment with interest. To the extent so charged and after the limited liability company […]
Section 10A-5A-5.04 Power of personal representative of deceased member. If a member dies, the deceased member’s personal representative or other legal representative may: (a) for the period of time that the deceased member’s personal representative or other legal representative holds the deceased member’s transferable interest: (1) exercise the rights of a holder of transferable interests […]
