Section 04.11.045 - Reports required of limited liability organizations(a) A limited liability organization licensed under this title shall report to the board when a member of the limited liability organization transfers 10 percent or more of the ownership of the organization and shall report a change of managers.(b) The report to the board shall be made in writing in duplicate and shall be sent within 10 days after the change in member interest or manager.(c) A limited liability organization that fails to report as required under (a) of this section commits the offense of failure to report a change in member interest or manager.(d) Failure to report a change in member interest or manager is a violation.Amended by SLA 2022, ch. 8,sec. 20, eff. 1/1/2024.