Section 25.15.246. Nature of limited liability company interest—Certificate of interest.

Latest version.

(1) The only interest of a member that is transferable is the member's transferable interest. A transferable interest is personal property. A member has no interest in specific limited liability company property.

(2) A limited liability company agreement may provide that a transferable interest may be evidenced by a certificate of limited liability company interest issued by the limited liability company and may also provide for the transfer of any transferable interest represented by such a certificate and make other provisions with respect to such certificate.

[ 2015 c 188 § 48.]

2015 c 188 § 48.

                    
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