Section 275.195 - Consideration for issuance of interest - Members(1) A limited liability company interest may be issued in exchange for consideration consisting of cash, property, services rendered, or a promissory note or other obligation to contribute cash or property or to perform services.(2) A person may be admitted to a limited liability company as a member of the limited liability company and may receive a limited liability company interest without making a contribution or being obligated to make a contribution to the limited liability company.(3) Unless otherwise provided in the operating agreement, a person may be admitted to a limited liability company as a member without acquiring a limited liability company interest.Effective:7/15/2010
Repealed and reenacted 2010, Ky. Acts ch. 51, sec. 113, effective7/15/2010. -- Amended 2007, Ky. Acts ch. 137, sec. 113, effective 6/26/2007. --Created 1994 Ky. Acts ch. 389, sec. 39, effective 7/15/1994.