275.195 Consideration for issuance of interest -- Members.
(1)
(2)
(3)
A limited liability company interest may be issued in exchange for consideration
consisting of cash, property, services rendered, or a promissory note or other
obligation to contribute cash or property or to perform services.
A person may be admitted to a limited liability company as a member of the limited
liability company and may receive a limited liability company interest without
making a contribution or being obligated to make a contribution to the limited
liability company.
Unless otherwise provided in the operating agreement, a person may be admitted to
a limited liability company as a member without acquiring a limited liability
company interest.
Effective: July 15, 2010
History: Repealed and reenacted 2010 Ky. Acts ch. 51, sec. 113, effective July 15,
2010. -- Amended 2007 Ky. Acts ch. 137, sec. 113, effective June 26, 2007. -Created 1994 Ky. Acts ch. 389, sec. 39, effective July 15, 1994.
Legislative Research Commission Note (7/15/2010). 2010 Ky. Acts ch. 51, sec. 183,
provides, "The specific textual provisions of Sections 1 to 178 of this Act which
reflect amendments made to those sections by 2007 Ky. Acts ch. 137 shall be deemed
effective as of June 26, 2007, and those provisions are hereby made expressly
retroactive to that date, with the remainder of the text of those sections being
unaffected by the provisions of this section."
Disclaimer: These codes may not be the most recent version. Kentucky may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.