A member is dissociated from a limited liability company upon the occurrence of any of the following events: (1) the company’s having notice of the member’s express will to withdraw upon the date of notice or on a later date specified by the member; (2) an event agreed to in the operating agreement as causing […]
(a) Unless otherwise provided in the operating agreement, a member has the power to dissociate from a limited liability company at any time, rightfully or wrongfully, by express will pursuant to section 1601, item (1) of this chapter. (b) If the operating agreement has not eliminated a member’s power to dissociate, the member’s dissociation from […]
(a) Upon a member’s dissociation: (1) in an at-will company, the company must cause the dissociated member’s distributional interest to be purchased under subchapter VII of this chapter; and (2) in a term company: (i) if the company dissolves and winds up its business on or before the expiration of its specified term, subchapter VIII […]
