(1) Subject to subsection (2) of this section, a person may become a member in a
limited liability company:
(a) In the case of the person acquiring a limited liability company interest directly
from a limited liability company, upon compliance with an operating
agreement or, if an operating agreement does not so provide in writing, upon
the written consent of all members; and
(b) In the case of an assignee of the limited liability company interest, as provided
in KRS 275.255 and 275.265.
(2) The effective time of admission of a member to a limited liability company shall be
the later of:
(a) The date the limited liability company is formed;
(b) The time provided in the operating agreement or, if no time is provided, when
the person's admission is reflected in the records of the limited liability
company; or
(c) The time the member is admitted under KRS 275.285(4).
(3) Upon becoming a member in a limited liability company, the member is bound by
and a party to the operating agreement.
Effective: July 12, 2012
History: Amended 2012 Ky. Acts ch. 81, sec. 108, effective July 12, 2012. -- Amended
2011 Ky. Acts ch. 29, sec. 14, effective June 8, 2011. -- Created 1994 Ky. Acts ch.
389, sec. 55, effective July 15, 1994.
Notes of Decisions
Cited in
4
cases (
2 in the last 5 years), 2010–2023 · leading case:
Spurlock v. Begley, 308 S.W.3d 657 (Ky. 2010).
Spurlock v. Begley, 308 S.W.3d 657 (Ky. 2010).
· cites it 3× “KRS 275.275 governs admission to membership in a limited liability company.”
Hannah v. Mullins (S.D.W. Va 2021).
· cites it 5× “Accordingly, any individual who claims ownership and thus membership interests in an LLC must comply with KRS 275.275. That provision states, in relevant part: (1) Subject to subsection (2) of this section, a person may become a member in a limited liability company: (a) In the…”
— Ky. Rev. Stat. § 275.275(1) — 1 case
Hannah v. Mullins (S.D.W. Va 2021).
“Accordingly, any individual who claims ownership and thus membership interests in an LLC must comply with KRS 275.275. That provision states, in relevant part: (1) Subject to subsection (2) of this section, a person may become a member in a limited liability company: (a) In the…”
— Ky. Rev. Stat. § 275.275(1)(a) — 2 cases
Hannah v. Mullins (S.D.W. Va 2021).
“Accordingly, any individual who claims ownership and thus membership interests in an LLC must comply with KRS 275.275. That provision states, in relevant part: (1) Subject to subsection (2) of this section, a person may become a member in a limited liability company: (a) In the…”
— Ky. Rev. Stat. § 275.275(1)(b) — 1 case
Hannah v. Mullins (S.D.W. Va 2021).
“Accordingly, any individual who claims ownership and thus membership interests in an LLC must comply with KRS 275.275. That provision states, in relevant part: (1) Subject to subsection (2) of this section, a person may become a member in a limited liability company: (a) In the…”
— Ky. Rev. Stat. § 275.275(3) — 1 case
— Ky. Rev. Stat. § 275.275(s) — 1 case
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