Internal Revenue Code: Federal tax regulations governing partnership taxation and transfer of interests, critical for structuring the sale and understanding tax implications for both parties
Securities Exchange Act: Federal law that may apply if the LLC membership interest being sold could be classified as a security
State LLC Act: State-specific legislation governing the formation, operation, and transfer of LLC interests within that jurisdiction
Blue Sky Laws: State-specific securities laws that regulate the offering and sale of securities at the state level
State Contract Laws: State-specific laws governing contract formation, enforcement, and interpretation
State Commercial Codes: State-specific regulations governing commercial transactions and business dealings
Operating Agreement Compliance: Requirements and restrictions specified in the LLC's operating agreement regarding member interest transfers
Secretary of State Filing Requirements: State-specific documentation and filing requirements for transferring LLC membership interests
Member Consent Requirements: Legal requirements for obtaining necessary approvals from other LLC members for the transfer
Right of First Refusal Provisions: Legal considerations regarding any existing rights of first refusal held by other members or the LLC itself
Tax Treatment Regulations: Rules governing the tax treatment of the sale, including capital gains considerations and basis adjustments
Investment Company Act: Federal law that may apply if the LLC's activities fall under investment company regulations
