39d23f27_Document___Buy_Sell_Agreements__Triggering_Event
[Purpose] The LLC's Operating Agreement should provide that a member may not transfer or encumber all or any interest in the member's interest in the company without the approval of the members and compliance with the terms and conditions of the Operating Agreement. If a member violates the no transfer/encumbrance provisions, the LLC should have an option to acquire the interest of the defaulting member, perhaps at an amount less than the fair market value of the interest. [Triggering Event] 
Transfer of membership interest without consent of the members
A Multi-Member LLC’s Most Important Document - Buy Sell Agreements
Triggering Event