{"data":{"id":"us-md/md.-code-corporations-and-associations-4a-603","jurisdiction":"us-md","citation":"Md. Code, Corporations and Associations § 4A–603","heading":"","body":"(a) Unless otherwise agreed:\n(1) Only an economic interest in a limited liability company may be assigned; and\n(2) An economic interest is wholly or partly assignable.\n(b) An assignment of an economic interest in a limited liability company does not:\n(1) Dissolve the limited liability company; or\n(2) Entitle the assignee to:\n(i) Become a member; or\n(ii) Exercise any rights of a member, including the noneconomic interest of the assignor.\n(c) If an assignee of an economic interest in a limited liability company becomes a member of the limited liability company, the assignor is not released from the assignor’s liability under § 4A–502 of this title to the limited liability company.\n(d) Unless otherwise agreed, on assignment of all of a member’s economic interest in a limited liability company, the member ceases to be a member of the limited liability company and forfeits the member’s noneconomic interest in the limited liability company.\n(e) The pledge or grant of a security interest, lien, or other encumbrance in or against all or a part of the economic interest of a member does not cause the member to cease to be a member or affect the member’s noneconomic interest in the limited liability company.","path":["Article - Corporations and Associations"],"source_url":"https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=gca\u0026section=4A-603","current_through":"2026-01-01","vintage":"","retrieved_at":"2026-09-14T19:56:43Z","sha256":"9b5fc46bfd6befc0ee92497fb7065d255fbad2bea7f63fc590bd724e642b5308","source_id":"us-md","stale":false,"prev":"us-md/md.-code-corporations-and-associations-4a-602","next":"us-md/md.-code-corporations-and-associations-4a-604"},"notice":"GroundRules: Original legal text. Not legal advice."}