Skip to main content

New York Consolidated Laws, Limited Liability Company Law - LLC § 605. Liability upon assignment

Welcome to FindLaw's Cases & Codes, a free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw's Learn About the Law.

Whether or not an assignee of a membership interest becomes a member, the assignor of a membership interest is not released from any liability under this chapter or the operating agreement, except liabilities that arise after the effectiveness of the assignment and are pursuant to section two hundred ten of this chapter, section five hundred eight of this chapter or, in the event the assignee becomes a member, unless otherwise provided in the operating agreement, section five hundred two of this chapter.

Cite this article: FindLaw.com - New York Consolidated Laws, Limited Liability Company Law - LLC § 605. Liability upon assignment - last updated January 01, 2021 | https://codes.findlaw.com/ny/limited-liability-company-law/llc-sect-605/


FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.

Copied to clipboard