Miss. Code Ann. » Miss. Code Ann. / Title 79 / Chapter 29
Mississippi Code

Miss. Code Ann. § 79-29-701 (2026)

Nature of financial interest in a limited liability company

✓ current as of July 2026
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A financial interest in a limited liability company is intangible personal property. A member has no interest in specific limited liability company property.

Laws, 2010, ch. 532, § 1, eff. 1/1/2011.

Notes of Decisions
Cited in 3 cases (2 in the last 5 years), 2007–2022 · leading case: Peoples Bank v. Bryan Bros. Cattle Co., 504 F.3d 549 (5th Cir. 2007).
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Peoples Bank v. Bryan Bros. Cattle Co., 504 F.3d 549 (5th Cir. 2007). “Miss.Code Ann. § 79-29-701 (emphasis added).”
Harrison, Jr v. Simon, No. 20-01041 (Bankr. M.D. La. Sept. 30, 2022). “He reasons that under the law of Mississippi, where D Squared was organized,24 the real estate sale proceeds belonged to D Squared rather than its members.”
Lou v. Ochello, No. 20-00027 (Bankr. S.D. Miss. Mar. 30, 2022). “” Miss. Code Ann. § 79-29-701 . It follows that once Lou transferred the $120,000 to Golden Walker, he no longer had any interest in those funds.”
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