21-130 Becoming member. - Nebraska Statutes

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Statutes > Nebraska > Chapter21 > 21-130

21-130. Becoming member.(ULLCA 401) (a) If a limited liabilitycompany is to have only one member upon formation, the person becomes a memberas agreed by that person and the organizer of the company. That person andthe organizer may be, but need not be, different persons. If different, theorganizer acts on behalf of the initial member.(b) If a limited liabilitycompany is to have more than one member upon formation, those persons becomemembers as agreed by the persons before the formation of the company. Theorganizer acts on behalf of the persons in forming the company and may be,but need not be, one of the persons.(c) After formation of a limited liability company,a person becomes a member:(1) as provided in the operating agreement;(2) as the result ofa transaction effective under sections 21-170 to 21-184;(3) with the consentof all the members; or(4)if, within ninety consecutive days after the company ceases to have any members:(A) the last person tohave been a member, or the legal representative of that person, designatesa person to become a member; and(B) the designated person consents to become a member.(d) A person may becomea member without acquiring a transferable interest and without making or beingobligated to make a contribution to the limited liability company. SourceLaws 2010, LB888, § 30.Operative Date: January 1, 2011

State Codes and Statutes

Statutes > Nebraska > Chapter21 > 21-130

21-130. Becoming member.(ULLCA 401) (a) If a limited liabilitycompany is to have only one member upon formation, the person becomes a memberas agreed by that person and the organizer of the company. That person andthe organizer may be, but need not be, different persons. If different, theorganizer acts on behalf of the initial member.(b) If a limited liabilitycompany is to have more than one member upon formation, those persons becomemembers as agreed by the persons before the formation of the company. Theorganizer acts on behalf of the persons in forming the company and may be,but need not be, one of the persons.(c) After formation of a limited liability company,a person becomes a member:(1) as provided in the operating agreement;(2) as the result ofa transaction effective under sections 21-170 to 21-184;(3) with the consentof all the members; or(4)if, within ninety consecutive days after the company ceases to have any members:(A) the last person tohave been a member, or the legal representative of that person, designatesa person to become a member; and(B) the designated person consents to become a member.(d) A person may becomea member without acquiring a transferable interest and without making or beingobligated to make a contribution to the limited liability company. SourceLaws 2010, LB888, § 30.Operative Date: January 1, 2011

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State Codes and Statutes

Statutes > Nebraska > Chapter21 > 21-130

21-130. Becoming member.(ULLCA 401) (a) If a limited liabilitycompany is to have only one member upon formation, the person becomes a memberas agreed by that person and the organizer of the company. That person andthe organizer may be, but need not be, different persons. If different, theorganizer acts on behalf of the initial member.(b) If a limited liabilitycompany is to have more than one member upon formation, those persons becomemembers as agreed by the persons before the formation of the company. Theorganizer acts on behalf of the persons in forming the company and may be,but need not be, one of the persons.(c) After formation of a limited liability company,a person becomes a member:(1) as provided in the operating agreement;(2) as the result ofa transaction effective under sections 21-170 to 21-184;(3) with the consentof all the members; or(4)if, within ninety consecutive days after the company ceases to have any members:(A) the last person tohave been a member, or the legal representative of that person, designatesa person to become a member; and(B) the designated person consents to become a member.(d) A person may becomea member without acquiring a transferable interest and without making or beingobligated to make a contribution to the limited liability company. SourceLaws 2010, LB888, § 30.Operative Date: January 1, 2011