{"data":{"id":"us-nh/rsa-304-c-118","jurisdiction":"us-nh","citation":"RSA 304-C:118","heading":"Transfers, Etc.-Definitions.","body":"I. A transfer of membership rights by a member shall mean any voluntary or involuntary transfer or other disposition of all or any part of those rights to another person, with or without consideration, including:\n(a) A transfer by sale, exchange, gift, or assignment;\n(b) A transfer, whether by will, trust, or otherwise, taking effect upon the death of the member; and\n(c) A transfer by operation of law, including a transfer in connection with a merger of a member that is an entity into another entity, by execution of legal process, or under a divorce or bankruptcy decree.\nII. The term \"transfer\" shall not include redemptions or pledges of membership rights.\nIII. A redemption of a member's membership rights shall mean the extinguishment of those rights in exchange for a distribution of cash, other property, or other consideration from the limited liability company to the member.\nIV. A grant of membership rights shall mean their issuance by the limited liability company to a member or other person.\nV. A pledge shall mean an arrangement under which a member provides another person with an interest in all or any portion of the member's membership rights in order to secure an obligation of the member.","path":["Title XXVIII: PARTNERSHIPS","Chapter 304-C: LIMITED LIABILITY COMPANIES","Grants, Redemptions, and Transfers of Membership Rights"],"source_url":"https://gc.nh.gov/rsa/html/XXVIII/304-C/304-C-118.htm","current_through":"2025 regular legislative session, or December 2025","vintage":"","retrieved_at":"2026-09-05T14:54:51Z","sha256":"9f8210d355943142e897999b7b33dceac6df7e67b59c5bf5c4e226370360870d","source_id":"us-nh","stale":false,"prev":"us-nh/rsa-304-c-117","next":"us-nh/rsa-304-c-119"},"notice":"GroundRules: Original legal text. Not legal advice."}