KRS 275.195: Consideration for issuance of interest -- Members.

(1) A limited liability company interest may be issued in exchange for consideration

consisting of cash, property, services rendered, or a promissory note or other

obligation to contribute cash or property or to perform services.

(2) A person may be admitted to a limited liability company as a member of the limited

liability company and may receive a limited liability company interest without

making a contribution or being obligated to make a contribution to the limited

liability company.

(3) Unless otherwise provided in the operating agreement, a person may be admitted to

a limited liability company as a member without acquiring a limited liability

company interest.