79-29-301 - Admission of members.
§ 79-29-301. Admission of members.
(1) A person becomes a member on the later of:
(a) The date the original certificate of formation is filed by the Secretary of State; or
(b) The date stated in the records of the limited liability company as the date that person becomes a member.
(2) After the filing by the Secretary of State of a limited liability company's original certificate of formation, a person may be admitted as a member:
(a) In the case of a person acquiring a limited liability company interest directly from the limited liability company, upon the compliance with the certificate of formation or the limited liability company agreement or, if the certificate of formation or the limited liability company agreement does not so provide, upon the written consent of all members; and
(b) In the case of an assignee of a limited liability company interest, upon compliance with subsection (1) of Section 79-29-704.
Sources: Laws, 1994, ch. 402, § 22; Laws, 1997, ch. 418, § 37, eff from and after July 1, 1997.