Maryland Statutes
Subtitle 6 - Membership
Section 4A-604 - Right of Assignee to Become a Member

(a)    An assignee of an economic interest in a limited liability company may become a member of the limited liability company under any of the following circumstances:
        (1)    In accordance with the terms of the operating agreement providing for the admission of a member;
        (2)    By the unanimous consent of the members; or
        (3)    If there are no remaining members of the limited liability company at the time the assignee obtains the economic interest, on terms that the assignee may determine in accordance with § 4A–902(b)(1)(i) of this title.
    (b)    An assignee who becomes a member:
        (1)    Has, to the extent assigned, the rights and powers, and is subject to the restrictions and liabilities, of a member under the operating agreement and this title; and
        (2)    Is liable for any obligations of his assignor to make capital contributions.

Structure Maryland Statutes