interest. (a) A transfer of a distributional interest in whole or in part: (1) does not by itself cause dissolution and winding up of the limited liability company's activities; and (2) is subject to Section 30-10. (b) A transfer of a distributional interest does not entitle the transferee to become or to exercise any rights of a member. A transfer entitles the transferee to receive, to the extent transferred, only the distributions to which the transferor would be entitled. up of the limited liability company's activities; and
‹ Prev All Illinois sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.