§ 4A–604
Statutes in effect as of October 1, 2026.
Md. Code Ann., Corps. & Ass'ns § 4A-604 (2026)
Title 4A. Limited Liability Company Act
Subtitle 6. Membership
§ 4A–604LinkCopy Citation
(a)
An assignee of an economic interest in a limited liability company may become a member of the limited liability company under any of the following circumstances:
(1)
In accordance with the terms of the operating agreement providing for the admission of a member;
(2)
By the unanimous consent of the members; or
(3)
If there are no remaining members of the limited liability company at the time the assignee obtains the economic interest, on terms that the assignee may determine in accordance with § 4A–902(b)(1)(i) of this title.
(b)
An assignee who becomes a member:
(1)
Has, to the extent assigned, the rights and powers, and is subject to the restrictions and liabilities, of a member under the operating agreement and this title; and
(2)
Is liable for any obligations of his assignor to make capital contributions.