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the Vermont Statutes
2014 Vermont Statutes
Title 11 - Corporations, Partnerships and Associations
Chapter 21 - LIMITED LIABILITY COMPANIES
Subchapter 5: TRANSFEREES AND CREDITORS OF MEMBER
§ 3072 Transfer of distributional interest
Universal Citation:
11 V.S.A. § 3072
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§ 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.)
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