2006 New York Code - Admission Of Members.



 
    §  602.  Admission  of  members.  (a)  A  person becomes a member of a
  limited liability company on the later of:
    (1) the effective date of the initial articles of organization; or
    (2) the date as of which the person becomes a member pursuant to  this
  section or the operating agreement; provided, however, that if such date
  is  not  ascertainable,  the  date  stated in the records of the limited
  liability company.
    (b) After the effective date of a limited liability company's  initial
  articles of organization, a person may be admitted as a member:
    (1)  in  the case of a person acquiring a membership interest directly
  from the limited liability company, upon compliance with  the  operating
  agreement  or,  if the operating agreement does not so provide, upon the
  vote or written consent of a majority in interest of the members;
    (2) in the case of an assignee of a membership interest  of  a  member
  who  has the power, as provided in the operating agreement, to grant the
  assignee the right to become a member, upon the exercise of  that  power
  and compliance with any conditions limiting the grant or exercise of the
  power; or
    (3)   unless   otherwise   provided  in  an  agreement  of  merger  or
  consolidation or the operating  agreement,  in  the  case  of  a  person
  acquiring  a  membership  interest  in  a surviving or resulting limited
  liability company pursuant to a  merger  or  consolidation  approved  in
  accordance  with  subdivision  (b)  of  section one thousand one of this
  chapter, at the time provided in and upon compliance with the  operating
  agreement of the surviving or resulting limited liability company.

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