2010 Hawaii Code
DIVISION 2. BUSINESS
TITLE 23A. OTHER BUSINESS ENTITIES
428. Uniform Limited Liability Company Act
§428-502 Transfer of distributional interest.


HI Rev Stat § 428-502 (2010 through Reg Sess) What's This?

[§428-502] Transfer of distributional interest. A transfer of a distributional interest does not entitle the transferee to become or to exercise any rights of a member. A transfer entitles the transferee to receive, to the extent transferred, only the distributions to which the transferor would be entitled. A member ceases to be a member upon transfer of all of the member's distributional interest, other than a transfer for security purposes, or a court order charging the member's distributional interest, which has not been foreclosed. [L 1996, c 92, pt of §1]

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