Alabama § 10A-5A-4.01 Admission of Members

Alabama Statutes

§ 10A-5A-4.01 — Admission of Members

Alabama § 10A-5A-4.01

Title 10AAlabama Business and Nonprofit Entities Code

Ch. 5AAlabama Limited Liability Company Law of 2014

Art. 4Relations of Members to Each Other and to the Limited Liability Company

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Bluebook

Ala. Code § 10A-5A-4.01 (2026).

Text

(a)The initial member or members of a limited liability company are admitted as a member or members upon the formation of the limited liability company.

(b)After formation of a limited liability company, a person is admitted as a member of the limited liability company:

(1)as provided in the limited liability company agreement;

(2)as the result of a transaction effective under Article 10 of this chapter or Article 8 of Chapter 1;

(3)with the consent of all the members; or

(4)as provided in Section 10A-5A-7.01(c)(1) or (c)(2).

(c)A person may be admitted as a member without acquiring a transferable interest and without making or being obligated to make a contribution to the limited liability company. A person may be admitted as the sole member without acquiring a transferable interes

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(a) The initial member or members of a limited liability company are admitted as a member or members upon the formation of the limited liability company.
(b) After formation of a limited liability company, a person is admitted as a member of the limited liability company:
(1) as provided in the limited liability company agreement;
(2) as the result of a transaction effective under Article 10 of this chapter or Article 8 of Chapter 1;
(3) with the consent of all the members; or
(4) as provided in Section 10A-5A-7.01(c)(1) or (c)(2).
(c) A person may be admitted as a member without acquiring a transferable interest and without making or being obligated to make a contribution to the limited liability company. A person may be admitted as the sole member without acquiring a transferable interest and without making or being obligated to make a contribution to the limited liability company.