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Current as of January 01, 2022 | Updated by FindLaw Staff
(a) Except as otherwise provided in a written operating agreement, an assignee of an interest in a limited-liability company may become a member only if the other members unanimously consent. The consent of a member may be evidenced in any manner specified in an operating agreement, but in the absence of specification, consent is evidenced by a written instrument, dated and signed by the member, or evidenced by a vote taken at a meeting of the members called in accordance with the operating agreement and maintained with the records of the limited-liability company.
(b) An assignee who becomes a member has, to the extent assigned, the rights and powers, and is subject to the restrictions and liabilities, of a member under the articles of organization, any operating agreement and this chapter.
(c) An assignee who becomes a member is liable for any obligations of the assignor to make contributions and to return distributions under this chapter.
Cite this article: FindLaw.com - Rhode Island General Laws Title 7. Corporations, Associations, and Partnerships § 7-16-36. Right of assignee to become a member - last updated January 01, 2022 | https://codes.findlaw.com/ri/title-7-corporations-associations-and-partnerships/ri-gen-laws-sect-7-16-36/
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