A member's distributional interest in an LLC is ________ and may be transferred in whole or in part.

Question

Quizplus · Accepted Answer

A member's interest in an LLC is considered personal property, meaning it is owned by the individual member and can be transferred or sold like any other personal property. It is not considered state or federal property, and while it is technically tied to the LLC's assets and profits, it is not owned by the LLC itself.

A Member's Distributional Interest in an LLC Is ________ and May