{"data":{"id":"us-ak/as-10.50.375","jurisdiction":"us-ak","citation":"AS 10.50.375","heading":"Assignment of interest in company.","body":"(a) A person may assign a limited liability company interest in whole or in part.\n(b) The assignment of a limited liability company interest entitles the assignee to receive, to the extent assigned, only the distributions to which the assignor is entitled.\n(c) The assignment of a limited liability company interest does not dissolve the company or entitle the assignee to participate in the management and affairs of the company, to become a member, or to exercise the rights of a member. Unless the assignee of the interest becomes a member with respect to the interest, the assignor continues to be a member and may exercise the rights of a member, subject to the members' right to remove the assignor under AS 10.50.205.\n(d) Unless the assignee becomes a member, an assignee of a limited liability company interest is not liable as a member solely as a result of the assignment.\n(e) The assignor of a limited liability company interest is not released, solely as a result of the assignment, from the assignor's liability as a member.\n(f) An operating agreement may establish terms different from those in (a) — (e) of this section.\n(g) Unless otherwise provided in an operating agreement of the company, the pledge of, or granting of a security interest, lien, or other encumbrance in or against, a part or all of a member's limited liability company interest is not an assignment under this section and does not terminate the membership or the rights and powers of the member.","path":["Title 10. Corporations and Associations.","Chapter 50. Alaska Revised Limited Liability Company Act.","Article 10. Ownership and Transfer of Property; Creditors."],"source_url":"https://www.akleg.gov/basis/statutes.asp#10.50.375","current_through":"Alaska Statutes 2025 (34th Legislature, 2025-2026)","vintage":"","retrieved_at":"2026-09-02T06:16:39Z","sha256":"0d5ff11ed19ec7aee5c180cf52b3e71521493fb5de417b1e055268e16a1ed68f","source_id":"us-ak","stale":false,"prev":"us-ak/as-10.50.370","next":"us-ak/as-10.50.380"},"notice":"GroundRules: Original legal text. Not legal advice."}