Montana § 35-8-703 Nature Of Distributional Interest

Montana Statutes

§ 35-8-703 — Nature Of Distributional Interest

Montana·Title 35 CORPORATIONS, PARTNERSHIPS, AND ASSOCIATIONS·Ch. 8 MONTANA LIMITED LIABILITY COMPANY ACT·Part 7 Ownership and Transfer of Property

35-8-703 . Nature of distributional interest.

(1)A member is not a co-owner of, and does not have a transferable interest in, property of a limited liability company.

(2)A member's distributional interest in a limited liability company is personal property and, subject to the provisions of 35-8-707 , may be transferred in whole or in part.

(3)An operating agreement may provide that a member's distributional interest may be evidenced by a certificate of the interest issued by the limited liability company and, subject to the provisions of 35-8-707 , may also provide for the transfer of any interest represented by the certificate.

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35-8-703 . Nature of distributional interest. (1) A member is not a co-owner of, and does not have a transferable interest in, property of a limited liability company.
(2) A member's distributional interest in a limited liability company is personal property and, subject to the provisions of 35-8-707 , may be transferred in whole or in part.
(3) An operating agreement may provide that a member's distributional interest may be evidenced by a certificate of the interest issued by the limited liability company and, subject to the provisions of 35-8-707 , may also provide for the transfer of any interest represented by the certificate.

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