Rhode Island § 7-16-36 § 7-16-36. Right of assignee to become a member.

Rhode Island Statutes

§ 7-16-36 — § 7-16-36. Right of assignee to become a member.

Rhode Island § 7-16-36

Title 7Corporations, Associations and Partnerships

Ch. 7-16The Rhode Island Limited Liability Company Act

This text of Rhode Island § 7-16-36 (§ 7-16-36. Right of assignee to become a member.) is published on Counsel Stack Legal Research, covering Rhode Island primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

R.I. Gen. Laws § 7-16-36 (2026).

Text

§ 7-16-36. Right of assignee to become a member.
(a) Except as otherwise provided in a written operating agreement, an assignee of an interest
            in a limited liability company may become a member only if the other members unanimously
            consent. The consent of a member may be evidenced in any manner specified in an operating
            agreement, but in the absence of specification, consent is evidenced by a written
            instrument, dated and signed by the member, or evidenced by a vote taken at a meeting
            of the members called in accordance with the operating agreement and maintained with
            the records of the limited liability company.
         
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§ 7-16-36. Right of assignee to become a member.

(a) Except as otherwise provided in a written operating agreement, an assignee of an interest in a limited liability company may become a member only if the other members unanimously consent. The consent of a member may be evidenced in any manner specified in an operating agreement, but in the absence of specification, consent is evidenced by a written instrument, dated and signed by the member, or evidenced by a vote taken at a meeting of the members called in accordance with the operating agreement and maintained with the records of the limited liability company.

(b) An assignee who becomes a member has, to the extent assigned, the rights and powers, and is subject to the restrictions and liabilities, of a member under the articles of organization, any operating agreement and this chapter.

(c) An assignee who becomes a member is liable for any obligations of the assignor to make contributions and to return distributions under this chapter.

(d) Whether or not an assignee of a membership interest becomes a member, the assignor is not released from the assignor's liability to the limited liability company under § 7-16-25 and § 7-16-32.