Bart,Dale and Bill form a limited liability company.They each own a one-third interest in the company,and agree to divide profits and losses on that basis.The operating agreement was silent regarding the transfer of an interest,and it did not address the status of a transferee.Bart sells his interest to Milly for $10,000.The company earns $99,000 in profits.and Milly informs Dale and Bill that she is their new member.They say "no way," and that she can forget about a share of the profits.Who is right under the Uniform Limited Liability Company Act,and why?

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The Answer of Bart,Dale and Bill form a limited liability company.They each own a one-third interest in the company,and agree to divide profits and losses on that basis.The operating agreement was silent regarding the transfer of an interest,and it did not address the status of a transferee.Bart sells his interest to Milly for $10,000.The company earns $99,000 in profits.and Milly informs Dale and Bill that she is their new member.They say "no way," and that she can forget about a share of the profits.Who is right under the Uniform Limited Liability Company Act,and why?

Bart,Dale and Bill Form a Limited Liability Company