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(1) A member is not a co-owner of, and does not have a transferable interest in, property of a limited liability company.
(2) A member's distributional interest in a limited liability company is personal property and, subject to the provisions of 35-8-707, may be transferred in whole or in part.
(3) An operating agreement may provide that a member's distributional interest may be evidenced by a certificate of the interest issued by the limited liability company and, subject to the provisions of 35-8-707, may also provide for the transfer of any interest represented by the certificate.
Cite this article: FindLaw.com - Montana Title 35. Corporations, Partnerships, and Associations § 35-8-703. Nature of distributional interest - last updated April 27, 2021 | https://codes.findlaw.com/mt/title-35-corporations-partnerships-and-associations/mt-code-ann-sect-35-8-703.html
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