Alaska § 10.50.375 - Assignment of interest in company.
Full text of Alaska Alaska Statutes § 10.50.375 — Assignment of interest in company., with citation guidance and answers to common questions.
§ 10.50.375. Assignment of interest in company.
(a) A person may assign a limited liability company interest in whole or in part.
(b) The assignment of a limited liability company interest entitles the assignee to receive, to the extent assigned, only the distributions to which the assignor is entitled.
(c) The assignment of a limited liability company interest does not dissolve the company or entitle the assignee to participate in the management and affairs of the company, to become a member, or to exercise the rights of a member. Unless the assignee of the interest becomes a member with respect to the interest, the assignor continues to be a member and may exercise the rights of a member, subject to the members' right to remove the assignor under AS 10.50.205 .
(d) Unless the assignee becomes a member, an assignee of a limited liability company interest is not liable as a member solely as a result of the assignment.
(e) The assignor of a limited liability company interest is not released, solely as a result of the assignment, from the assignor's liability as a member.
(f) An operating agreement may establish terms different from those in (a) — (e) of this section.
(g) Unless otherwise provided in an operating agreement of the company, the pledge of, or granting of a security interest, lien, or other encumbrance in or against, a part or all of a member's limited liability company interest is not an assignment under this section and does not terminate the membership or the rights and powers of the member.
Source: official Alaska text · Last verified 2026-08-27
Frequently Asked Questions About Alaska § 10.50.375
What does Alaska Statutes § 10.50.375 cover?
Section 10.50.375 ("Assignment of interest in company.") is part of the Alaska Statutes, the codified statutory law of Alaska. 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 Alaska § 10.50.375?
A common citation format is "Alaska Statutes § 10.50.375" (Alaska). 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 Alaska law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Alaska official source linked on this page or consult a licensed Alaska attorney.
How does Alaska § 10.50.375 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Alaska 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 Alaska.