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Home » US Law » 2019 US Virgin Islands Code » Title 13 - Corporations and Associations » Chapter 15 - Uniform Limited Liability Company Act » Subchapter VII - Member's Dissociation When Business Not Wound Up

§ 1701. Company purchase of distributional interest

(a) A limited liability company shall purchase a distributional interest of a: (1) member of an at-will company for its fair value determined as of the date of the member’s dissociation if the member’s dissociation does not result in a dissolution and winding up of the company’s business under section 1801 of this chapter; or […]

§ 1702. Court action to determine fair value of distributional interest

(a) In an action brought to determine the fair value of a distributional interest in a limited liability company, the court shall: (1) determine the fair value of the interest, considering among other relevant evidence the going concern value of the company, any agreement among some or all of the members fixing the price or […]

§ 1703. Dissociated member’s power to bind limited liability company

For two years after a member dissociates without the dissociation resulting in a dissolution and winding up of a limited liability company’s business, the company, including a surviving company under subchapter IX of this chapter, is bound by an act of the dissociated member which would have bound the company under section 1301 of this […]

§ 1704. Statement of dissociation

(a) A dissociated member or a limited liability company may file in the office of the Lieutenant Governor a statement of dissociation stating the name of the company and that the member is dissociated from the company. (b) For the purposes of sections 1301 and 1703 of this chapter, a person not a member is […]