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La. Rev. Stat. § 12:1329 (2026)

Nature of membership interest

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PART VI.  ASSIGNMENT OF MEMBERSHIP INTERESTS

§1329.  Nature of membership interest

A membership interest shall be an incorporeal movable.  A member shall have no interest in limited liability company property.  

Acts 1992, No. 780, §2, eff. July 7, 1992.  

Notes of Decisions
Cited in 31 cases (8 in the last 5 years), 2005–2026 · leading case: Kelly v. Porter, Inc., 687 F. Supp. 2d 632 (E.D. La. 2010).
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Kelly v. Porter, Inc., 687 F. Supp. 2d 632 (E.D. La. 2010). · cites it 13× “” La.Rev.Stat. § 12:1329. Defendants note that Louisiana courts, in such cases as Van Meter v.”
Van Meter v. Gutierrez, 897 So. 2d 781 (La. Ct. App. 2005). · cites it 3× “R.S. 12:1329 specifically provides that "[a] member shall have no interest in limited liability company property.”
Channelside Servs., LLC v. Chrysochoos Grp., Inc., 194 So. 3d 751 (La. Ct. App. 2016). “R.S. 12:1329. “A member of an LLC has no direct interest in the LLC’s property.”
Zeigler v. Hous. Auth. of New Orleans, 118 So. 3d 442 (La. Ct. App. 2013). “R.S. 12:1329 states in pertinent part: “[a] member [of an L.”
South Louisiana Ethanol L.L.C. v. CHS-SLE Land, 161 So. 3d 83 (La. Ct. App. 2015). · cites it 2× “R.S. 12:1329, “[a] membership interest [in a limited liability company] shall be an incorporeal movable.”
Am. Rebel Arms, LLC v. New Orleans Hamburger & Seafood Co., 186 So. 3d 1220 (La. Ct. App. 2016). “R.S. 12:1329. Consequently, members of a limited liability company have no right to sue personally for damages to limited liability company property.”
Ne. Realty v. Misty Bayou, 920 So. 2d 938 (La. Ct. App. 2006). “R.S. 12:1329. *941 In this proceeding, the ownership claim to the disputed apartment complex property and the reconventional demands asserted by Misty Bayou were the property of the limited liability company known as Misty Bayou.”
Schauf v. Schauf, 247 So. 3d 172 (La. Ct. App. 2018). · cites it 4× “R.S. 12:1329. Therefore, owners of an LLC, unless they are also members of the LLC or except as otherwise provided in the articles of organization or a written operating agreement, cannot petition for partition of *178 the assets or "the thing" held by the LLC.”
In re Cat Island Club, L.L.C., 94 So. 3d 75 (La. Ct. App. 2012). “R.S. 12:1329 and, therefore, had no cause of action for a partition of the land.”
Moise v. Moise, 956 So. 2d 9 (La. Ct. App. 2007). “Moise, we acknowledge that LSA-R.S. 12:1329 provides that an L.L.C. member shall have no interest in a limited liability company property.”
Cerminaro v. Cerminaro, 207 So. 3d 633 (La. Ct. App. 2016). “R.S. 12:1329. In the instant matter, a review of the form of the Assignments clearly shows the donations were not made by authentic act.”
Grosjean v. Grosjean, 50 So. 3d 233 (La. Ct. App. 2010). “R.S. 12:1329. Plaintiffs petition therefore makes an ownership claim to an incorporeal movable which, in this case, is the membership in the LLCj^iOwnership is identified under Civil Code Article 476 as one of the three “rights in things.”
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