§ 601. Nature of membership interest. A membership interest in the\nlimited liability company is personal property. A member has no interest\nin specific property of the limited liability company.\n
N.Y. Ltd. Liab. Co. Law § 601
Nature of membership interest
Applied in 2 court decisions — leading case Stillwater Liquidating LLC v. Net Five at Palm Pointe, LLC (In re Stillwater Asset Backed Offshore Fund Ltd.) (2016)
Most recently applied in Behrend v. New Windsor Group, LLC (February 2020)
2014-09-22
Official source: NYS Open Legislation (New York State Senate). Reproduced from public-domain New York statutes; confirm against the official source for the current text. Not legal advice.