N.Y. Limited Liability Company Law § 605

Current through 2024 NY Law Chapters 1-50, 52-55, 57, 61-117
Section 605 - Liability upon assignment

Whether or not an assignee of a membership interest becomes a member, the assignor of a membership interest is not released from any liability under this chapter or the operating agreement, except liabilities that arise after the effectiveness of the assignment and are pursuant to section two hundred ten of this chapter, section five hundred eight of this chapter or, in the event the assignee becomes a member, unless otherwise provided in the operating agreement, section five hundred two of this chapter.

N.Y. Limited Liability Company Law Law § 605