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Corporation law

Staten Island, NY |

we have 4 people in llc agreement in NY I want trasnfere for free my shares to my ex husband, do I have to notify other members

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Attorney answers 3


This depends on what your LLC operating agreement states. Usually admitting a new member requires some consent by other members, but again this should be covered in the operating agreement.

This answer should not be construed as creating an attorney-client relationship, and is for informational purposes only.


As my colleague noted, your LLC's Operating Agreement should spell out how a member's shares can be transferred. Also, depending on whether your ex was your ex when you acquired the shares when the LLC was formed, your ex may already have a claim to those shares, which may have been addressed in your divorce judgement.

See a business lawyer, and/or the lawyer that helped you with the divorce, for help.

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You need to refer to the terms of your LLC operating agreent. If you are making this transfer to limit or avoid liability to a third party, the transfer must also satisfy the New York Debtor/Creditor Law.

PLEASE NOTE: This response is for general purposes only and does not establish an attorney-client relationship, nor is it legal advice. Please consult an attorney for legal advice particular to the circumstances of your situation.



My is part of my LLC agreement and I he has 10 percent and I have 10 now I want give him my 10. Should I notify other member of such transefer