New York § 605 - 605Liability upon assignment
Full text of New York New York Consolidated Laws § 605 — 605Liability upon assignment, with citation guidance and answers to common questions.
§ 605. 605Liability upon assignment
§ 605. Liability upon assignment. Whether or not an assignee of a membership interest becomes a member, the assignor of a membership interest is not released from any liability under this chapter or the operating agreement, except liabilities that arise after the effectiveness of the assignment and are pursuant to section two hundred ten of this chapter, section five hundred eight of this chapter or, in the event the assignee becomes a member, unless otherwise provided in the operating agreement, section five hundred two of this chapter.
Frequently Asked Questions About New York § 605
What does New York Consolidated Laws § 605 cover?
Section 605 ("605Liability upon assignment") is part of the New York Consolidated Laws, the codified statutory law of New York. 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 York § 605?
A common citation format is "New York Consolidated Laws § 605" (New York). 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 York law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New York official source linked on this page or consult a licensed New York attorney.
How does New York § 605 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New York 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 York.