West Virginia § 31B-5-501 Member's distributional interest

West Virginia Statutes

§ 31B-5-501 — Member's distributional interest

West Virginia § 31B-5-501

Ch. 31BUNIFORM LIMITED LIABILITY COMPANY ACT

Art. 5TRANSFEREES AND CREDITORS OF MEMBER

This text of West Virginia § 31B-5-501 (Member's distributional interest) is published on Counsel Stack Legal Research, covering West Virginia primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

W. Va. Code § 31B-5-501 (2026).

Text

(a)A member is not a coowner of, and has no transferable interest in, property of a limited liability company.

(b)A distributional interest in a limited liability company is personal property and, subject to sections 5-502 and 5-503, may be transferred, in whole or in part.

(c)An operating agreement may provide that a distributional interest may be evidenced by a certificate of the interest issued by the limited liability company and, subject to section 5-503, may also provide for the transfer of any interest represented by the certificate.

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(a) A member is not a coowner of, and has no transferable interest in, property of a limited liability company.

(b) A distributional interest in a limited liability company is personal property and, subject to sections 5-502 and 5-503, may be transferred, in whole or in part.

(c) An operating agreement may provide that a distributional interest may be evidenced by a certificate of the interest issued by the limited liability company and, subject to section 5-503, may also provide for the transfer of any interest represented by the certificate.