New York Limited Liability Company Law Article 6 - MEMBERS AND MEMBERSHIP

• 601 - Nature of Membership Interest.
  A membership interest in the limited liability company is personal property. A member has no interest in specific property of the limited liability company.
• 602 - Admission of Members.
  (a) A person becomes a member of a limited liability company on the later of: (1) the effective date of the initial articles of organization;...
• 603 - Assignment of Membership Interest.
  (a) Except as provided in the operating agreement, (1) a membership interest is assignable in whole or in part; (2) an assignment of a membership...
• 604 - Rights of Assignee to Become a Member.
  (a) Except as provided in the operating agreement, an assignee of a membership interest may not become a member without the vote or written consent...
• 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...
• 606 - Withdrawal of a Member.
  (a) A member may withdraw as a member of a limited liability company only at the time or upon the happening of events specified in...
• 607 - Rights of Creditors of Members.
  (a) On application to a court of competent jurisdiction by any judgment creditor of a member, the court may charge the membership interest of the...
• 608 - Powers of Estate of a Deceased or Incompetent Member.
  If a member who is a natural person dies or a court of competent jurisdiction adjudges him or her to be incompetent to manage his...
• 609 - Liability of Members, Managers and Agents.
  (a) Neither a member of a limited liability company, a manager of a limited liability company managed by a manager or managers nor an agent...
• 610 - Parties to Actions.
  A member of a limited liability company is not a proper party to proceedings by or against a limited liability company, except where the object...
• 611 - Business Transactions of a Member With the Limited Liability Company.
  Except as may be provided in the operating agreement, a member may lend money to, borrow money from, act as a guarantor or surety for,...

Last modified: February 3, 2019