Delaware Code Title 6 Sec. 18-701 – Nature of limited liability company interest
Current as of: 2023 | Check for updates
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A limited liability company interest is personal property. A member has no interest in specific limited liability company property.
Terms Used In Delaware Code Title 6 Sec. 18-701
- Limited liability company interest: means a member's share of the profits and losses of a limited liability company and a member's right to receive distributions of the limited liability company's assets. See Delaware Code Title 6 Sec. 18-101
- Member: means a person who is admitted to a limited liability company as a member as provided in § 18-301 of this title, and includes a member of the limited liability company generally and a member associated with a series of the limited liability company. See Delaware Code Title 6 Sec. 18-101
- Personal property: All property that is not real property.