Guam § 15114 - (A). Acquisition of Membership Interest; Termina-

§ 15114. (A). Acquisition of Membership Interest; Termina-

tion of Interest.

(a) After formation of a limited liability company, a person

may become a member:

(1) In the case of a person acquiring a membership

interest directly from the limited liability company, at the

time provided in and upon compliance with the articles of

organization or the operating agreement or, if the articles of

organization or operating agreement do not so provide, only

upon the vote of all the members and when the person

becomes a party to the operating agreement.

(2) In the case of an assignee of a membership interest,

upon compliance with subdivision (a) of Subsection 15117

(D) and at the time provided in and upon compliance with

the articles of organization or the operating agreement or, if

the articles of organization or operating agreement do not so

provide, where the assignee becomes a party to the

operating agreement.

(b) The operating agreement may provide for the

termination in whole or in part of the membership interest or

economic interest of a member in the limited liability company.

If a member's economic interest in the limited liability company

is terminated pursuant to the operating agreement, the member

may demand and shall be entitled to receive a return of that

member=s contribution. Any provision in an operating agreement

governing the termination of a member=s interest and the return

of a member=s contribution shall be enforceable in accordance

with its terms unless the member seeking to invalidate the

provision establishes that the provision was unreasonable under

the circumstances existing at the time the agreement was made.