275.195 Consideration for issuance of interest -- Members.
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/ky/chapter-275/275-195A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(1)A limited liability company interest may be issued in exchange for consideration
consisting of cash, property, services rendered, or a promissory note or other
obligation to contribute cash or property or to perform services.
(2)A person may be admitted to a limited liability company as a member of the limited
liability company and may receive a limited liability company interest without
making a contribution or being obligated to make a contribution to the limited
liability company.
(3)Unless otherwise provided in the operating agreement, a person may be admitted to
a limited liability company as a member without acquiring a limited liability
company interest.