Indiana Code 23-18-6-1. Acquisition of membership
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Sec. 1. (a) Subject to subsection (b), a person may become a member in a limited liability company:
(2) in the case of an assignee of an interest, as provided in section 4 or 4.1 of this chapter.
(1) in the case of a person acquiring an interest directly from the limited liability company, upon compliance with the operating agreement or if the operating agreement does not provide in writing, upon the written consent of all members; and
Terms Used In Indiana Code 23-18-6-1
- in writing: include printing, lithographing, or other mode of representing words and letters. See Indiana Code 1-1-4-5
(b) The effective time of admission of a member to a limited liability company is the later of the following:
(1) The date the limited liability company is organized.
(2) The time provided in the operating agreement, or if no time is provided, when the person’s admission is reflected in the records of the limited liability company.
As added by P.L.8-1993, SEC.301. Amended by P.L.269-1999, SEC.6.