Court Opinions

State Laws

US Code

US Constitution

New York Limited Liability Company Law Section 605 - Liability Upon Assignment.

Legal Research Home > New York Lawyer > Limited Liability Company > New York Limited Liability Company Law Section 605 - Liability Upon Assignment.

    § 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.

Last modified: August 10, 2006