Current through the 2024 Regular Session
Section 79-29-910 - Membership interest transfer restrictions(1) A member of a professional limited liability company may transfer the member's membership interests only to qualified persons. Unless otherwise prohibited by the certificate of formation or operating agreement, a member of a professional limited liability company may pledge the member's membership interest to a qualified person or to a disqualified person.(2) A transfer of a membership interest made in violation of subsection (1), except one made by operation of law or court judgment, is void. Laws, 2010, ch. 532, § 1, eff. 1/1/2011.