New Jersey § 42:2c-31
Full text of New Jersey New Jersey Statutes § 42:2c-31, with citation guidance and answers to common questions.
§ 42:2c-31.
Becoming a Member. a. If a limited liability company is to have only one member upon formation, the person
becomes a member as agreed by that person and the organizer of the company. That person and the organizer may be, but need not be, different persons. If different, the organizer acts on behalf of the initial member. b. If a limited liability company is to have more than one member upon formation,
those persons become members as agreed by the persons before the formation of the
company. The organizer acts on behalf of the persons in forming the company and may be, but
need not be, one of the persons. c. After formation of a limited liability company, a person becomes a member: (1) as provided in the operating agreement; (2) as the result of a transaction effective under Article 10 (sections 73 through
87 of this act); 1 (3) with the consent of all the members; or (4) if, within 90 consecutive days after the company ceases to have any members: (a) the last person to have been a member, or the legal representative of that person,
designates a person to become a member; and (b) the designated person consents to become a member. d. A person may become a member without acquiring a transferable interest and without
making or being obligated to make a contribution to the limited liability company. 1
L.2012, c. 50 (N.J.S.A. §§ 42:2C-73 through 42:2C-87).
Frequently Asked Questions About New Jersey § 42:2c-31
What does New Jersey Statutes § 42:2c-31 cover?
Section 42:2c-31 is part of the New Jersey Statutes, the codified statutory law of New Jersey. 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 New Jersey § 42:2c-31?
A common citation format is "New Jersey Statutes § 42:2c-31" (New Jersey). 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 New Jersey law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New Jersey official source linked on this page or consult a licensed New Jersey attorney.
How does New Jersey § 42:2c-31 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New Jersey 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 New Jersey.