{"data":{"id":"us-ky/krs-275.265","jurisdiction":"us-ky","citation":"KRS 275.265","heading":"Assignee of an interest as a member of the company.","body":"(1) Unless otherwise provided in a written operating agreement, an assignee of a\nlimited liability company interest shall become a member only if a majority -in-\ninterest of the members consent. The consent of a member may be evidenced in any\nmanner specified in  writing in an operating agreement, but in the absence of\nspecification, consent shall be evidenced by one (1) or more written instruments,\ndated and signed by the requisite members. Except as otherwise provided in a\nwritten operating agreement, the assign or of a limited liability company interest\nshall not participate in the vote, approval, or consent of the admission of the\nassignee as a member.\n(2) An assignee who becomes a member shall have, to the extent assigned, the rights\nand powers and shall be sub ject to the restrictions and liabilities of a member under\nthe articles of organization, any written operating agreement, and this chapter. An\nassignee who becomes a member also shall be liable for any obligations of his or\nher assignor to make contributions under KRS 275.200. However, the assignee shall\nnot be obligated for liabilities of which the assignee had no knowledge at the time\nhe or she became a member and which could not be ascertained from the articles of\norganization or any written operating agreement.\n(3) Unless otherwise provided in a written operating agreement, the assignor shall not\nbe released from his or her liability to the limited liability company under KRS\n275.200, whether or not an assignee of a limited liability company interest bec omes\na member.\n(4) Unless otherwise provided in a written operating agreement, a member who assigns\nhis or her entire limited liability company interest shall cease to be a member or to\nhave the power to exercise any rights of the member when the assignee becomes a\nmember with respect to the entire assigned interest.\n(5) Unless otherwise set forth in the operating agreement, a successor in interest to a\nmember who is disassociated from the limited liability company shall have the\nrights and obligations of an assignee with respect to the member's interest.","path":["KRS Chapter 275"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=13883","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:53:27Z","sha256":"f679181246d741c65d21bdf9f82131b28f0028d3885adf6dbd5734e2be271fea","source_id":"us-ky","stale":false,"prev":"us-ky/krs-275.260","next":"us-ky/krs-275.270"},"notice":"GroundRules: Original legal text. Not legal advice."}