SEC. 79-29-910. Membership interest transfer restrictions.
(1) A member of a professional limited liability company may transfer his membership interests only to qualified persons. A member of a professional limited liability company may pledge his membership interest to a qualified person or to a disqualified person.
(2) A transfer of a membership interest made in violation of subsection (1), except one made by operation of law or court judgment, is void.
SOURCES: Laws, 1994, ch. 402, Sec. 64; 1995, ch. 494, Sec. 45, eff from and after July 1, 1995