A member's distributional interest in a limited liability company is personal property and may be transferred in whole or in part.

Question

Quizplus · Accepted Answer

According to the default rules of the Uniform Limited Liability Company Act, a member's distributional interest in an LLC is considered personal property and can be transferred in whole or in part without requiring the consent of other members or the LLC itself. However, the LLC operating agreement can impose restrictions on transferability to protect the interests of existing members or the company as a whole.

A Member's Distributional Interest in a Limited Liability Company Is