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NEW YORK LEGAL INFORMATION
LLC Links -- Forms and Statutes
Selected Portions New York LLC Act
- § 606. Withdrawal of a member. (Article 6)
(a) A member may withdraw as a member
of a limited liability company only at the time or upon the happening of
events specified in the operating agreement and in accordance with the
operating agreement. Notwithstanding anything to the contrary under
applicable law, unless an operating agreement provides otherwise, a
member may not withdraw from a limited liability company prior to the
dissolution and winding up of the limited liability company.
Notwithstanding anything to the contrary under applicable law, an
operating agreement may provide that a membership interest may not be
assigned prior to the dissolution and winding up of the limited
liability company.
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- § 1205. Professional relationships and liabilities. (Article 12)
(a) Each member, manager, employee or agent of a professional service limited liability company shall be personally and fully liable and accountable for any negligent or wrongful act or misconduct committed by him or her or by any person under his or her direct supervision and control while rendering professional services on behalf of such limited liability company.
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- § 1212. Limited liability company name.
* * *
(b) A professional service limited liability company name shall end
with the words "Professional Limited Liability Company" or "Limited
Liability Company" or the abbreviation "P.L.L.C.", "PLLC", "L.L.C." or
"LLC". The provisions of subdivision (a) of section two hundred four of
this chapter shall not apply to a professional service limited liability
company.
Library of Informational Legal Articles
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