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Subject Topic: LLC interests transfer (Topic Closed Topic Closed) Post ReplyPost New Topic
  
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gjtseng
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Joined: 26 Jan 2012
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Posts: 51
Posted: 20 Feb 2012 at 23:47 | IP Logged  

Hi guys

I know that LLC may not transfer all of his interest in LLC without the consent of all other members, but the book also mentions that he is free to assign his interest in distributions, but not free to assign any right to manage the LLC. My question is can the member just sell his interests on profit and loss only(not right to manage) to a third party without the every other members' consent?

Second question, are these same rules apply to GP, LLP, and LP?

Thx for your help~

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audreyP
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Joined: 23 Nov 2011
Location: United States
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Posts: 50
Posted: 25 Feb 2012 at 07:35 | IP Logged  

I think llp, lp, llc, and partnership are the same regarding this.
Partnership/member interest is free to assign or transfer, but assignee
or transferee will not become partner/member without others consent.
One thing special about llc. Llc member can freely dissociate with
notification, while all other types will risk breach of contract.

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