New Hampshire § 304-C:118 Transfers, Etc.-Definitions

New Hampshire Statutes

§ 304-C:118 — Transfers, Etc.-Definitions

New Hampshire § 304-C:118

Title XXVIIIPARTNERSHIPS

Ch. 304-CLIMITED LIABILITY COMPANIES

SubdivisionGrants, Redemptions, and Transfers of Membership Rights

This text of New Hampshire § 304-C:118 (Transfers, Etc.-Definitions) is published on Counsel Stack Legal Research, covering New Hampshire primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.H. Rev. Stat. Ann. § 304-C:118 (2026).

Text

I. A transfer of membership rights by a member shall mean any voluntary or involuntary transfer or other disposition of all or any part of those rights to another person, with or without consideration, including:

(a)A transfer by sale, exchange, gift, or assignment;

(b)A transfer, whether by will, trust, or otherwise, taking effect upon the death of the member; and

(c)A transfer by operation of law, including a transfer in connection with a merger of a member that is an entity into another entity, by execution of legal process, or under a divorce or bankruptcy decree. II. The term "transfer" shall not include redemptions or pledges of membership rights. III. A redemption of a member's membership rights shall mean the extinguishment of those rights in exchange for a distribution of cash,

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I. A transfer of membership rights by a member shall mean any voluntary or involuntary transfer or other disposition of all or any part of those rights to another person, with or without consideration, including:
(a) A transfer by sale, exchange, gift, or assignment;
(b) A transfer, whether by will, trust, or otherwise, taking effect upon the death of the member; and
(c) A transfer by operation of law, including a transfer in connection with a merger of a member that is an entity into another entity, by execution of legal process, or under a divorce or bankruptcy decree.
II. The term "transfer" shall not include redemptions or pledges of membership rights.
III. A redemption of a member's membership rights shall mean the extinguishment of those rights in exchange for a distribution of cash, other property, or other consideration from the limited liability company to the member.
IV. A grant of membership rights shall mean their issuance by the limited liability company to a member or other person.
V. A pledge shall mean an arrangement under which a member provides another person with an interest in all or any portion of the member's membership rights in order to secure an obligation of the member.