New York § 605 Liability upon assignment

New York Statutes

§ 605 — Liability upon assignment

New York § 605

Law LLCLimited Liability Company Law

Art. 6Members and Membership

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Bluebook

N.Y. Limited Liability Company Law § 605 (2026).

Text

  § 605. Liability upon assignment. Whether or not an assignee of a\nmembership interest becomes a member, the assignor of a membership\ninterest is not released from any liability under this chapter or the\noperating agreement, except liabilities that arise after the\neffectiveness of the assignment and are pursuant to section two hundred\nten of this chapter, section five hundred eight of this chapter or, in\nthe event the assignee becomes a member, unless otherwise provided in\nthe operating agreement, section five hundred two of this chapter.\n

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§ 605. Liability upon assignment. Whether or not an assignee of a\nmembership interest becomes a member, the assignor of a membership\ninterest is not released from any liability under this chapter or the\noperating agreement, except liabilities that arise after the\neffectiveness of the assignment and are pursuant to section two hundred\nten of this chapter, section five hundred eight of this chapter or, in\nthe event the assignee becomes a member, unless otherwise provided in\nthe operating agreement, section five hundred two of this chapter.\n