La. Stat. tit. 12 § 1329 : REVISED STATUTES — CORPORATIONS AND ASSOCIATIONS — LIMITED LIABILITY COMPANIES — ASSIGNMENT OF MEMBERSHIP INTERESTS — Nature of membership interest TEXT PDF A membership interest shall be an incorporeal movable. A member shall have no interest in limited liability company property. La. R.S. § 12:1329 Acts 1992, No. 780, §2, eff. 7/7/1992.