Illinois General Assembly - Illinois Compiled Statutes

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805 ILCS 180/30-5

(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.)