§ 29-804.01 — Becoming member.

District of Columbia § 29-804.01

• Jurisdiction: District of Columbia
• Title 29: Business Organizations. [Enacted title]
• Ch. 8: Limited Liability Companies.
• Subch. IV: Relations of Members to Each Other and to Limited Liability Company.

Text

(a) If a limited liability company is to have only one member upon formation, the person shall become a member as agreed by that person and the organizer of the company. That person and the organizer may be, but need not be, different persons. If different, the organizer shall act on behalf of the initial member.

(b) If a limited liability company is to have more than one member upon formation, those persons shall become members as agreed by the persons before the formation of the company. The organizer [sic] act on behalf of the persons in forming the company and may be, but need not be, one of the persons.

(c) After formation of a limited liability company, a person becomes a member:

(1) As provided in the operating agreement;

(2) As the result of a transaction effective under subchapter IX of this chapter or Chapter 2 of this title ;

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

(4) As provided in § 29-807.01(a)(3) .

(d) A person may become a member without acquiring a transferable interest and without making or being obligated to make a contribution to the limited liability company.

Legislative History

July 2, 2011, D.C. Law 18-378, § 2, 58 DCR 1720; Mar. 5, 2013, D.C. Law 19-210, § 2(h)(5)(A), 59 DCR 13171