ILCS » Chapter 805 · Act 180
Illinois Compiled Statutes

805 ILCS 180/30-5 (2026)

Transfer of a distributional interest

✓ current as of May 2026
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(805 ILCS 180/30-5)
    Sec. 30-5. Transfer of a distributional interest.
    (a) A transfer of a distributional interest in whole or in part:
        (1) does not by itself cause dissolution and winding
    
up of the limited liability company's activities; and
        (2) is subject to Section 30-10.
    (b) A transfer of a distributional interest does not entitle the transferee to become or to exercise any rights of a member. A transfer entitles the transferee to receive, to the extent transferred, only the distributions to which the transferor would be entitled.
(Source: P.A. 99-637, eff. 7-1-17.)

    
Notes of Decisions
Cited in 4 cases, 2017–2020 · leading case: Doherty v. Country Faire Conversion, LLC, 2020 IL App (1st) 192385 (Ill. App. Ct. 2020).
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Doherty v. Country Faire Conversion, LLC, 2020 IL App (1st) 192385 (Ill. App. Ct. 2020). “805 ILCS 180/30-5 (West 2018). ¶ 45 In granting summary judgment as to count I, Judge Allen found that Doherty was not a member of CFC.”
Doherty v. Country Faire Conversion, LLC, 2020 IL App (1st) 192385 (Ill. App. Ct. 2020). “805 ILCS 180/30-5 (West 2018). -8- ¶ 45 In granting summary judgment as to count I, Judge Allen found that Doherty was not a member of CFC.”
in the Matter of Soble Fam. Trust (Mich. Ct. App. 2017). “] Concurrently, 805 ILCS 180/30-5(b) provides: “A transfer of a distributional interest does not entitle the transferee to become or to exercise any rights of a member.”
in the Matter of Soble Fam. Trust (Mich. Ct. App. 2017). “] Concurrently, 805 ILCS 180/30-5(b) provides: “A transfer of a distributional interest does not entitle the transferee to become or to exercise any rights of a member.”
— 805 ILCS 180/30-5(b) — 2 cases
in the Matter of Soble Fam. Trust (Mich. Ct. App. 2017). “] Concurrently, 805 ILCS 180/30-5(b) provides: “A transfer of a distributional interest does not entitle the transferee to become or to exercise any rights of a member.”
in the Matter of Soble Fam. Trust (Mich. Ct. App. 2017). “] Concurrently, 805 ILCS 180/30-5(b) provides: “A transfer of a distributional interest does not entitle the transferee to become or to exercise any rights of a member.”
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