N.Y. LLC Law § 605
This is the official text of N.Y. LLC Law § 605, part of New York’s LLC Law — part of the compiled statutory law of New York, published by the state as "LLC Law." Browse the sections below, each linked to its official government source.
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Liability upon assignment
Official statutory text
§ 605. Liability upon assignment. Whether or not an assignee of a\nmembership interest becomes a member, the assignor of a membership\ninterest is not released from any liability under this chapter or the\noperating agreement, except liabilities that arise after the\neffectiveness of the assignment and are pursuant to section two hundred\nten of this chapter, section five hundred eight of this chapter or, in\nthe event the assignee becomes a member, unless otherwise provided in\nthe operating agreement, section five hundred two of this chapter.\n
Status: in_force · Read it on the official government site
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