§ 48-2c-703. Additional members.

     After the formation of a company, a person is admitted as an additional member of the company as provided in the operating agreement or, if the operating agreement does not provide for additional members, then:

(1) in the case of a person who is not an assignee of an interest in the company, including a person acquiring an interest directly from the company, upon the person's signing the operating agreement or other writing by which the person agrees to be bound by the operating agreement, and upon consent of all members;

(2) in the case of a person who is an assignee of an interest in the company, upon the person's signing the operating agreement or other writing by which the person agrees to be bound by the operating agreement, and upon consent of all members and upon the effective date of the person's admission as reflected in the records of the company;

(3) unless otherwise provided in a plan of merger, in the case of a person acquiring an interest in a surviving company pursuant to a merger approved under Section 48-2c-1407, at the time provided in and upon compliance with the operating agreement of the surviving company; or

(4) unless otherwise provided in articles of conversion, in the case of a person acquiring an interest in a company pursuant to a conversion approved under Section 48-2c-1404, at the time provided in and upon compliance with the operating agreement of the company resulting from the conversion.

Enacted by Chapter 260, 2001 General Session