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This entry was published on 2014-09-22
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SECTION 602
Admission of members
Limited Liability Company Law (LLC) CHAPTER 34, ARTICLE 6
§ 602. Admission of members. (a) A person becomes a member of a
limited liability company on the later of:

(1) the effective date of the initial articles of organization; or

(2) the date as of which the person becomes a member pursuant to this
section or the operating agreement; provided, however, that if such date
is not ascertainable, the date stated in the records of the limited
liability company.

(b) After the effective date of a limited liability company's initial
articles of organization, a person may be admitted as a member:

(1) in the case of a person acquiring a membership interest directly
from the limited liability company, upon compliance with the operating
agreement or, if the operating agreement does not so provide, upon the
vote or written consent of a majority in interest of the members;

(2) in the case of an assignee of a membership interest of a member
who has the power, as provided in the operating agreement, to grant the
assignee the right to become a member, upon the exercise of that power
and compliance with any conditions limiting the grant or exercise of the
power; or

(3) unless otherwise provided in an agreement of merger or
consolidation or the operating agreement, in the case of a person
acquiring a membership interest in a surviving or resulting limited
liability company pursuant to a merger or consolidation approved in
accordance with subdivision (b) of section one thousand one of this
chapter, at the time provided in and upon compliance with the operating
agreement of the surviving or resulting limited liability company.