Maryland Statutes
Subtitle 6 - Membership
Section 4A-601 - Admission of Members

(a)    A person becomes a member of a limited liability company at:
        (1)    The time the limited liability company is formed;
        (2)    A later time specified in the operating agreement; or
        (3)    The time specified in § 4A–902(b) of this title relating to continuation of the limited liability company after there are no remaining members.
    (b)    After the formation of a limited liability company, a person may be admitted as a member:
        (1)    In the case of a person acquiring a membership interest directly from the limited liability company, upon compliance with the operating agreement or, if the operating agreement does not so provide, upon the unanimous consent of the members;
        (2)    In the case of an assignee of the economic interest of a member, only as provided in § 4A–604 of this subtitle; or
        (3)    In the case of a successor to the last remaining member who is not an assignee of the last remaining member, as provided in § 4A–902(b) of this title.
    (c)    Unless otherwise agreed, a person may be admitted as a member of a limited liability company and may be the sole member of a limited liability company without:
        (1)    Making a capital contribution to the limited liability company;
        (2)    Being obligated to make a capital contribution to the limited liability company; or
        (3)    Acquiring an economic interest in the limited liability company.

Structure Maryland Statutes