By the Subcommittee on Limited Liability Companies, Committee on Partnerships and Unincorporated Business Organizations,
ABA Business Law Section
The Model LLC Membership Interest Redemption Agreement explores and addresses issues that arise in the drafting of redemption agreements. It does not presuppose applicable redemption provisions in the operating agreement, so it conceives of the terms of this agreement being negotiated between the entity, the redeemed member, and possibly the remaining members.