§ 25.15.115. Admission of members
(1) In connection with the formation of a limited liability company, a person acquiring a limited liability company interest is admitted as a member of the limited liability company upon the later to occur of:
(a) The formation of the limited liability company; or
(b) The time provided in and upon compliance with the limited liability company agreement or, if the limited liability company agreement does not so provide or does not exist, when the person's admission is reflected in the records of the limited liability company.
(2) After the formation of a limited liability company, a person acquiring a limited liability company interest is admitted as a member of the limited liability company:
(a) In the case of a person acquiring a limited liability company interest directly from the limited liability company, at the time provided in and upon compliance with the limited liability company agreement or, if the limited liability company agreement does not so provide or does not exist, upon the consent of all members and when the person's admission is reflected in the records of the limited liability company; or
(b) In the case of an assignee of a limited liability company interest who meets the conditions for membership set forth in RCW 25.15.260(1), at the time provided in and upon compliance with the limited liability company agreement or, if the limited liability company agreement does not so provide or does not exist, when any such assignee's admission as a member is reflected in the records of the limited liability company.
[1994 c 211 § 301.]
Sections: Previous 25.15.075 25.15.080 25.15.085 25.15.090 25.15.095 25.15.100 25.15.105 25.15.115 25.15.120 25.15.125 25.15.130 25.15.135 25.15.140 25.15.150 25.15.155 NextLast modified: April 7, 2009