Alabama § 10A-5-6.02 - Transferability of Member’s Interest. Repealed in the 2014 Regular Session by Act 2014-144 Effective January 1, 2017.
Full text of Alabama Code of Alabama § 10A-5-6.02 — Transferability of Member’s Interest. Repealed in the 2014 Regular Session by Act 2014-144 Effective January 1, 2017., with citation guidance and answers to common questions.
§ 10A-5-6.02. Transferability of Member’s Interest. Repealed in the 2014 Regular Session by Act 2014-144 Effective January 1, 2017.
(a) Except as otherwise provided in the operating agreement:
(1) A membership interest in a limited liability company is assignable in whole or in part.
(2) An assignment of a member’s interest in a limited liability company does not of itself dissolve the limited liability company or entitle the assignee to exercise any management rights.
(3) An assignment only entitles the assignee to the financial rights of the assignor to the extent assigned.
(4) A member who assigns the member’s interest in a limited liability company does not cease to be a member until the assignee is substituted as provided in Section 10A-5-6.03.
(b) A limited liability company, in the governing documents, may provide that a member’s interest in the limited liability company may be evidenced by a certificate of limited liability company interest issued by the limited liability company. Any provision for the assignment or transfer of a limited liability company interest represented by such a certificate shall be consistent with this chapter.
(c) Any purported transfer of a member’s interest in violation of this section is void.
Source: official Alabama text · Last verified 2026-08-27
Frequently Asked Questions About Alabama § 10A-5-6.02
What does Code of Alabama § 10A-5-6.02 cover?
Section 10A-5-6.02 ("Transferability of Member’s Interest. Repealed in the 2014 Regular Session by Act 2014-144 Effective January 1, 2017.") is part of the Code of Alabama, the codified statutory law of Alabama. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Alabama § 10A-5-6.02?
A common citation format is "Code of Alabama § 10A-5-6.02" (Alabama). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Alabama law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Alabama official source linked on this page or consult a licensed Alabama attorney.
How does Alabama § 10A-5-6.02 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Alabama can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Alabama.