{"data":{"id":"us-id/idaho-code-30-25-502","jurisdiction":"us-id","citation":"Idaho Code § 30-25-502","heading":"TRANSFER OF TRANSFERABLE INTEREST.","body":"(a) Subject to section 30-25-503(f), Idaho Code, a transfer, in whole or in part, of a transferable interest:\n(1) Is permissible, except the transfer of a transferable interest in a professional entity is not permissible without compliance with section 30-21-901(i), Idaho Code;\n(2) Does not by itself cause a member’s dissociation or a dissolution and winding up of the limited liability company’s activities and affairs; and\n(3) Subject to section 30-25-504, Idaho Code, does not entitle the transferee to:\n(A) Participate in the management or conduct of the company’s activities and affairs; or\n(B) Except as otherwise provided in subsection (c) of this section, have access to records or other information concerning the company’s activities and affairs.\n(b) A transferee has the right to receive, in accordance with the transfer, distributions to which the transferor would otherwise be entitled.\n(c) In a dissolution and winding up of a limited liability company, a transferee is entitled to an account of the company’s transactions only from the date of dissolution.\n(d) A transferable interest may be evidenced by a certificate of the interest issued by a limited liability company in a record, and, subject to this section, the interest represented by the certificate may be transferred by a transfer of the certificate.\n(e) A limited liability company need not give effect to a transferee’s rights under this section until the company knows or has notice of the transfer.\n(f) A transfer of a transferable interest in violation of a restriction on transfer contained in the operating agreement is ineffective as to a person having knowledge or notice of the restriction at the time of transfer.\n(g) Except as otherwise provided in section 30-25-602(5)(B), Idaho Code, if a member transfers a transferable interest, the transferor retains the rights of a member other than the transferable interest transferred and retains all the duties and obligations of a member.\n(h) If a member transfers a transferable interest to a person that becomes a member with respect to the transferred interest, the transferee is liable for the member’s obligations under sections 30-25-403 and 30-25-406, Idaho Code, known to the transferee when the transferee becomes a member.","path":["TITLE 30 CORPORATIONS","CHAPTER 25 LIMITED LIABILITY COMPANIES","PART 5 TRANSFERABLE INTERESTS AND RIGHTS OF TRANSFEREES AND CREDITORS"],"source_url":"https://legislature.idaho.gov/statutesrules/idstat/title30/t30ch25/sect30-25-502/","current_through":"2026 Legislative Session","vintage":"","retrieved_at":"2026-09-04T11:18:38Z","sha256":"0e763cbb7808542019a06e05a80134b9ac53b2e624d0bd1644dbd2e07417b120","source_id":"us-id","stale":false,"prev":"us-id/idaho-code-30-25-501","next":"us-id/idaho-code-30-25-503"},"notice":"GroundRules: Original legal text. Not legal advice."}