Section 275.247 - Sale of assets other than in regular course of business(1) Except as may be otherwise provided in a written operating agreement, a limited liability company may sell, lease, exchange, or otherwise dispose of all or substantially all of its property with or without the good will, otherwise than in the usual and regular course of business, on the terms and conditions and for the consideration determined by a majority-in-interest of the members.(2) Unless otherwise provided in the articles of organization or a written operating agreement, no member shall have the right to dissent from a sale, lease, exchange, or other disposition by a limited liability company of all or substantially all of its property outside the ordinary course of business.Effective:7/15/2010
Repealed and reenacted 2010, Ky. Acts ch. 51, sec. 4, effective7/15/2010. -- Created 2007, Ky. Acts ch. 137, sec. 4, effective 6/26/2007.