§ 605. Liability upon assignment. Whether or not an assignee of a\nmembership interest becomes a member, the assignor of a membership\ninterest is not released from any liability under this chapter or the\noperating agreement, except liabilities that arise after the\neffectiveness of the assignment and are pursuant to section two hundred\nten of this chapter, section five hundred eight of this chapter or, in\nthe event the assignee becomes a member, unless otherwise provided in\nthe operating agreement, section five hundred two of this chapter.\n
N.Y. Ltd. Liab. Co. Law § 605
Liability upon assignment
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.