(a) A person becomes a member of a limited liability company at: (1) The time the limited liability company is formed; (2) A later time specified in the operating agreement; or (3) The time specified in § 4A–902(b) of this title relating to continuation of the limited liability company after there are no remaining members. (b) After the formation of a limited liability company, a person may be admitted as a member: (1) In the case of a person acquiring a membership interest directly from the limited liability company, upon compliance with the operating agreement or, if the operating agreement does not so provide, upon the unanimous consent of the members; (2) In the case of an assignee of the economic interest of a member, only as provided in § 4A–604 of this subtitle; or (3) In the case of a successor to the last remaining member who is not an assignee of the last remaining member, as provided in § 4A–902(b) of this title. (c) Unless otherwise agreed, a person may be admitted as a member of a limited liability company and may be the sole member of a limited liability company without: (1) Making a capital contribution to the limited liability company; (2) Being obligated to make a ber of a limited liability company and may be the sole member of a limited liability company without: (1) Making a capital contribution to the limited liability company; (2) Being obligated to make a capital contribution to the limited liability company; or (3) Acquiring an economic interest in the limited liability company.
Maryland Legal Code