§ 4A-601
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/md/corporations-and-associations/4a-601·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§4A–601.
(a)A person becomes a member of a limited liability company at:
(1)The time the limited liability company is formed;
(2)A later time specified in the operating agreement; or
(3)The time specified in § 4A–902(b) of this title relating to continuation of the limited liability company after there are no remaining members.
(b)After the formation of a limited liability company, a person may be admitted as a member:
(1)In the case of a person acquiring a membership interest directly from the limited liability company, upon compliance with the operating agreement or, if the operating agreement does not so provide, upon the unanimous consent of the members;
(2)In the case of an assignee of the economic interest of a member, only as provided in § 4A–604 of this subtitle; or
(3)In the case of a successor to the last remaining member who is not an assignee of the last remaining member, as provided in § 4A–902(b) of this title.
(c)Unless otherwise agreed, a person may be admitted as a member of a limited liability company and may be the sole member of a limited liability company without:
(1)Making a capital contribution to the limited liability company;
(2)Being obligated to make a capital contribution to the limited liability company; or
(3)Acquiring an economic interest in the limited liability company.