§ 275.247

275.247 Sale of assets other than in regular course of business. (1) Except as may be otherwise provided in a written operating agreement, a limited liability company may sell, lease, exchange, or otherwise dispose of all or substantially all of its property with or without the good will, otherwise than in the usual and reg ular course of business, on the terms and conditions and for the consideration determined by a majority -in-interest of the members. (2) Unless otherwise provided in the articles of organization or a written operating agreement, no member shall have the rig ht to dissent from a sale, lease, exchange, or other disposition by a limited liability company of all or substantially all of its property outside the ordinary course of business. Effective: July 15, 2010 History: Repealed and reenacted 2010 Ky. Acts ch. 51, sec. 4, effective July 15, 2010. - - Created 2007 Ky. Acts ch. 137, sec. 4, effective June 26, 2007. Legislative Research Commission Note (7/15/2010). 2010 Ky. Acts ch. 51, sec. 183, provides, 'The specific textual provisions of Sections 1 to 178 of th is Act which reflect amendments made to those sections by 2007 Ky. Acts ch.

ion Note (7/15/2010). 2010 Ky. Acts ch. 51, sec. 183, provides, 'The specific textual provisions of Sections 1 to 178 of th is Act which reflect amendments made to those sections by 2007 Ky. Acts ch. 137 shall be deemed effective as of June 26, 2007, and those provisions are hereby made expressly retroactive to that date, with the remainder of the text of those sections being unaffected by the provisions of this section.'