Minnesota Statutes Business, Social, and Charitable Organizations (Ch. 300-323A) § 322B.316. Effective date of assignments

Any permissible and otherwise valid assignment of financial rights undersection 322B.31or of governance rights or a complete membership interest undersection 322B.313will be effective as to and binding on the limited liability company only when the assignee's name, address, and the nature and extent of the assignment are reflected in the required records of the limited liability company, except that a permissible and otherwise valid security interest in a complete membership interest, financial rights, or governance rights will be effective as to and binding on the limited liability company as provided in chapter 336 whether or not the information about the secured party or the permissible and otherwise valid security interest is reflected in the required records of the limited liability company.