2019 New York Laws
LLC - Limited Liability Company Law
Article 6 - Members and Membership
606 - Withdrawal of a Member.

Universal Citation: NY LLC L § 606 (2019)
§  606.  Withdrawal of a member. (a) A member may withdraw as a member
of a limited liability company only at the time or upon the happening of
events specified in the operating agreement and in accordance  with  the
operating  agreement.    Notwithstanding  anything to the contrary under
applicable law, unless an  operating  agreement  provides  otherwise,  a
member  may  not  withdraw from a limited liability company prior to the
dissolution  and  winding  up  of   the   limited   liability   company.
Notwithstanding  anything  to  the  contrary  under  applicable  law, an
operating agreement may provide that a membership interest  may  not  be
assigned  prior  to  the  dissolution  and  winding  up  of  the limited
liability company.

(b) A limited liability company whose original article of organization were filed with the secretary of state and effective prior to the effective date of this subdivision shall continue to be governed by this section as in effect on such date and shall not be governed by this section, unless otherwise provided in the operating agreement.

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