TITLE XXVIII
PARTNERSHIPS

CHAPTER 304-C
LIMITED LIABILITY COMPANIES

Grants, Redemptions, and Transfers of Membership Rights

Section 304-C:120

    304-C:120 Limited Liability Company Grants of Membership Rights. – Unless the operating agreement provides otherwise, after the formation of the limited liability company, the limited liability company shall not grant membership rights to a third party or additional membership rights to an existing member, except upon a unanimous vote of the members.

Source. 2012, 232:2, eff. Jan. 1, 2013.