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Q.Can I sell my member interest in an LLC?
A.By default, in most jurisdictions no one can become a member of an LLC (either by transfer of an existing membership or the issuance of a new one) without the consent of a majority voting interest of the members (excluding the person acquiring the membership interest).
However the Articles of Organization, and in some states the Operating Agreement, can restrict the sale of member shares in almost any manner (e.g., only to predefined transferees, only after the LLC has refused to purchase the shares, etc…). You Operating Agreement should therefore be carefully reviewed, preferrably by an attorney, to determine if and how your membership interest can be transferred or sold.
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