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

West Virginia Statutes

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

West Virginia·Ch. 31B UNIFORM LIMITED LIABILITY COMPANY ACT·Art. 5 TRANSFEREES AND CREDITORS OF MEMBER

(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.

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