Vermont § 4051 - Becoming a member
Full text of Vermont Vermont Statutes Online § 4051 — Becoming a member, with citation guidance and answers to common questions.
§ 4051. 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) If articles of organization filed with the Secretary of State contain the statement
required by subdivision 4023(a)(5) of this title, a person becomes an initial member of the limited liability company with the consent
of a majority of the organizers. The organizers may consent to more than one person
simultaneously becoming the company’s initial members. (d) 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 subchapter 10 of this chapter; (3) with the affirmative vote or 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. (e) A person may become a member without acquiring a distributional interest and without
making or being obligated to make a contribution to the limited liability company. (Added 2015, No. 17, § 2.)
Frequently Asked Questions About Vermont § 4051
What does Vermont Statutes Online § 4051 cover?
Section 4051 ("Becoming a member") is part of the Vermont Statutes Online, the codified statutory law of Vermont. 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 Vermont § 4051?
A common citation format is "Vermont Statutes Online § 4051" (Vermont). 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 Vermont law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Vermont official source linked on this page or consult a licensed Vermont attorney.
How does Vermont § 4051 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Vermont 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 Vermont.