Section 10.50.180. Rights of assignor when assignee becomes a member.

Latest version.

Unless otherwise provided in an operating agreement of the company, when an assignee of a member's limited liability company interest becomes a member of the company with respect to the assignor's entire interest, the assignor ceases to be a member or to have the power to exercise the rights of a member.

Authorities

10.50.990

Notes

References

AS 10.50.990 Definitions.

History

(Sec. 1 ch 99 SLA 1994)

                    
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