Maine Revised Statutes Title 31 Sec. 1571 – Member’s transferable interest
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Terms Used In Maine Revised Statutes Title 31 Sec. 1571
- Member: means a person that has been admitted as a member of a limited liability company under section 1551. See Maine Revised Statutes Title 31 Sec. 1502
- Personal property: All property that is not real property.
- Transferable interest: means the right, as originally associated with a person's capacity as a member, to receive distributions from a limited liability company in accordance with the limited liability company agreement, whether or not the person remains a member or continues to own any part of the right. See Maine Revised Statutes Title 31 Sec. 1502
The only interest of a member that is transferable is the member’s transferable interest. A transferable interest in a limited liability company is personal property. [PL 2009, c. 629, Pt. A, §2 (NEW); PL 2009, c. 629, Pt. A, §3 (AFF).]
SECTION HISTORY
PL 2009, c. 629, Pt. A, §2 (NEW). PL 2009, c. 629, Pt. A, §3 (AFF).