Sec. 10.50.180. Rights of assignor when assignee becomes a member.
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/ak/title-10/chapter-50/10-50-180·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Sec. 10.50.180. Rights of assignor when assignee becomes a member.
Unless otherwise provided in an operating agreement of the company, when an assignee of a member's limited liability company interest becomes a member of the company with respect to the assignor's entire interest, the assignor ceases to be a member or to have the power to exercise the rights of a member.