2011 Vermont Code
Title 11 Corporations, Partnerships and Associations
Chapter 21 LIMITED LIABILITY COMPANIES
§ 3072 Transfer of distributional interest
§ 3072. 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 of a distributional interest 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 in either case has not been foreclosed. (Added 1995, No. 179 (Adj. Sess.), { 4.)
Disclaimer: These codes may not be the most recent version. Vermont 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.
