§ 4A–603
Statutes in effect as of October 1, 2026.
Md. Code Ann., Corps. & Ass'ns § 4A-603 (2026)
Title 4A. Limited Liability Company Act
Subtitle 6. Membership
§ 4A–603LinkCopy Citation
(a)
Unless otherwise agreed:
(1)
Only an economic interest in a limited liability company may be assigned; and
(2)
An economic interest is wholly or partly assignable.
(b)
An assignment of an economic interest in a limited liability company does not:
(1)
Dissolve the limited liability company; or
(2)
Entitle the assignee to:
(i)
Become a member; or
(ii)
Exercise any rights of a member, including the noneconomic interest of the assignor.
(c)
If an assignee of an economic interest in a limited liability company becomes a member of the limited liability company, the assignor is not released from the assignor’s liability under § 4A–502 of this title to the limited liability company.
(d)
Unless otherwise agreed, on assignment of all of a member’s economic interest in a limited liability company, the member ceases to be a member of the limited liability company and forfeits the member’s noneconomic interest in the limited liability company.
(e)
The pledge or grant of a security interest, lien, or other encumbrance in or against all or a part of the economic interest of a member does not cause the member to cease to be a member or affect the member’s noneconomic interest in the limited liability company.