RSA 304-C:53 · Admissions of Members

304-C:53 Admissions of Members. –
I. In connection with the formation of a limited liability company, a person otherwise qualified to be a member shall be deemed to be a member:
(a) On the date provided in the operating agreement; or
(b) If the operating agreement does not so provide, on the date of formation of the limited liability company.
II. After the formation of a limited liability company, a person otherwise qualified to be a member shall be deemed to be a member:
(a) On the date provided in the operating agreement; or
(b) If the operating agreement does not so provide, on the date on which the person makes a required contribution to the limited liability company; or
(c) If no such contribution is required, on the date on which the person and the member or members of the limited liability company agree that the person shall become a member.
III. A person may be admitted to a limited liability company as a member of the limited liability company and may receive membership rights, including a limited liability company interest, without making a contribution or being obligated to make a contribution to the limited liability company.
Source. 2012, 232:2, eff. Jan. 1, 2013.