It shall be rebuttably presumed that a member's interest in a limited liability company in which management is not vested in one or more managers is not a security for purposes of any and all laws of this state regulating the sale or exchange of securities.
Mo. Rev. Stat. § 347.185
Member's interest not security
Known as the Missouri Limited Liability Company Act
The act spans §§ 347–347 (97 sections).
Effective: 01 Dec 1993, see footnote; (L. 1993 S.B. 66 & 20 § 359.830)
Official source: Missouri Revisor of Statutes. Reproduced from public-domain Missouri statutes; confirm against the official source for the current text. Not legal advice.