← belizelaw.ai · International Limited Liability Companies, Cap. 270:01 · PART VI — Admission to and Termination of Membership of Companies
Rights of assignees
Cap. 270:01, s. 57 · Revised Edition 2020
An assignee of the member’s interest shall in no event have any right to interfere or inquire into the management or the administration of the limited liability company, its business (if any) or affairs, to amend the operating agreement or the articles of organisation or to vote in respect thereof or to act as a manager or to become a substituted member except as may otherwise be provided herein. An assignee shall only have the right to receive distributions attributable to the member’s interest in the limited liability company, if and to the extent any are made, along with allocations of profits and losses attributable to the member’s interest in the company in accordance with the allocation provisions set out in this Act or an operating agreement. Distributions shall be subject to the exclusive discretion of the manager, or if there is no manager,
the members. Any such assignee may not maintain any action against the limited liability company, its manager or members except in the Court and for the sole purpose of determining whether such assignee has received its proper share of
Have a question about this section? Ask belizelaw.ai →