§428-502 - Transfer of distributional interest. - Hawaii Statutes

     [§428-502]  Transfer of distributional interest.  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.  A member ceases to be a member upon transfer of all of the member's distributional interest, other than a transfer for security purposes, or a court order charging the member's distributional interest, which has not been foreclosed. [L 1996, c 92, pt of §1]