{"data":{"id":"us-ri/r.i.-gen.-laws-7-16-35","jurisdiction":"us-ri","citation":"R.I. Gen. Laws § 7-16-35","heading":"Assignment of membership interest.","body":"(a) Unless otherwise provided in the articles of organization or a written operating agreement:\n(1) A membership interest is assignable in whole or in part;\n(2) An assignment of a membership interest does not of itself dissolve a limited liability company or entitle the assignee to participate in the management and affairs of the limited liability company or to become a member or to exercise any rights or powers of a member;\n(3) An assignment entitles the assignee to receive, to the extent assigned, only the distributions to which the assignor would be entitled; and\n(4) A member ceases to be a member and to have the power to exercise any rights or powers of a member on assignment of all of the member’s membership interest.\n(b) Unless otherwise provided in the articles of organization or an operating agreement, the pledge of or granting of a security interest, lien or other encumbrance in or against any or all of the membership interest of a member is not deemed an assignment of a membership interest.\n(c) Unless otherwise provided in the articles of organization or an operating agreement and except to the extent provided in a written agreement signed by an assignee, until an assignee of a membership interest becomes a member, the assignee has no liability as a member solely as a result of the assignment.","path":["Title 7 Corporations, Associations, and Partnerships","Chapter 16 The Rhode Island Limited Liability Company Act"],"source_url":"https://webserver.rilegislature.gov/Statutes/TITLE7/7-16/7-16-35.htm","current_through":"site files published 2025-08-13","vintage":"","retrieved_at":"2026-09-05T19:54:51Z","sha256":"0d5fb0fd3e1f4c43bc7055100022fef533e319709c1cd9d85fa4786fdb1cbd6d","source_id":"us-ri","stale":true,"prev":"us-ri/r.i.-gen.-laws-7-16-34","next":"us-ri/r.i.-gen.-laws-7-16-36"},"notice":"GroundRules: Original legal text. Not legal advice."}