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The Florida Statutes

The 1998 Florida Statutes

Title XXXVI
BUSINESS ORGANIZATIONS
Chapter 608
Limited Liability Companies
View Entire Chapter

608.433  Right of assignee to become member.--

(1)  Unless otherwise provided in the articles of organization, an assignee of a limited liability company interest may become a member only if all other members consent.

(2)  An assignee who has become a member has, to the extent assigned, the rights and powers, and is subject to the restrictions and liabilities, of a member under the articles of organization, the regulations, and this chapter. An assignee who becomes a member also is liable for the obligations of his or her assignor to make and return contributions as provided in ss. 608.4211 and 608.428. However, the assignee is not obligated for liabilities which are unknown to the assignee at the time he or she became a member and which could not be ascertained from the regulations.

(3)  If an assignee of a limited liability company interest becomes a member, the assignor is not released from his or her liability to the limited liability company under ss. 608.4211, 608.426, and 608.4362.

(4)  On application to a court of competent jurisdiction by any judgment creditor of a member, the court may charge the limited liability company interest of the member with payment of the unsatisfied amount of the judgment with interest. To the extent so charged, the judgment creditor has only the rights of an assignee of the limited liability company interest. This chapter does not deprive any member of the benefit of any exemption laws applicable to his or her limited liability company interest.

History.--s. 34, ch. 93-284; s. 56, ch. 97-102.