{"data":{"id":"us-ms/miss.-code-ann.-81-27-6.306","jurisdiction":"us-ms","citation":"Miss. Code Ann. § 81-27-6.306","heading":"Interest in limited liability trust company; transferability of interest.","body":"(a) The interest of a participant or participant-transferee in a limited liability trust company is the personal estate of the participant or the participant-transferee and may be transferred as provided by the bylaws or the participation agreement. A transferee of a participant’s interest has the status of a participant-transferee and does not by the transfer become a participant or obtain a right to participate in the management of the limited liability trust company. A participant-transferee is entitled to receive only a share of profits, return of contribution, or other distributive benefit in respect to the interest transferred to which the participant who transferred the interest would have been entitled. A participant-transferee may become a participant only as provided by the bylaws or the participation agreement.\n(b) A limited liability trust company may add additional participants in the same manner as participant-transferees after payment in full of the capital contribution to the limited liability trust company payable for the issuance of additional participation interests.","path":["Title 81. Banks and Financial Institutions","Chapter 27. Multistate, State and Limited Liability Trust Institutions","Article 6. Additional Definitions; Ownership; Governance; Mergers.","Subarticle D. Special Provisions for Limited Liability Trust Companies."],"source_url":"https://archive.org/download/gov.ms.code.ann.2018/release78.2020.07.08/gov.ms.code.title.81.odt","current_through":"2020-07-08","vintage":"Mississippi Code Release 78 (2020-07), retrieved 2026-09-17","retrieved_at":"2026-10-27T05:54:28Z","sha256":"d97777ef1751e6c1eafd2626bf0617b4b69570a93972cd2d17c28f5d7ac37007","source_id":"us-ms","stale":false,"prev":"us-ms/miss.-code-ann.-81-27-6.305","next":"us-ms/miss.-code-ann.-81-27-6.307","notices":[{"id":"open-us-law","title":"Open US Law compilation","text":"Compilation CC BY 4.0, Open US Law (Vaquill AI). GroundRules uses only the releases published under CC BY 4.0: from v2026.09 the compilation is licensed CC BY-NC 4.0, and GroundRules does not use those releases. Each affected row names its release in its vintage label. GroundRules parsed and filtered the compilation to retain enacted text.","url":"https://huggingface.co/datasets/vaquill/open-us-law","license_url":"https://creativecommons.org/licenses/by/4.0/"},{"id":"pro-ms","title":"Mississippi Release 78 supplement","text":"Mississippi electronic product files were republished by Public.Resource.Org under a public-domain dedication. GroundRules uses enacted text from Release 78 only as a labeled supplement to the newer Open US Law rows.","url":"https://archive.org/details/gov.ms.code.ann.2018"}]},"notice":"GroundRules: Original legal text. Not legal advice."}