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Home » US Law » 2022 West Virginia Code » Chapter 31B. Uniform Limited Liability Company Act » Article 7. Member's Dissociation When Business Not Wound Up

§31B-7-701. 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 8-801; or

§31B-7-702. 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 […]

§31B-7-703. 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 article nine of this chapter, is bound by an act of the dissociated member which would have bound the company under section 3-301 before dissociation […]

§31B-7-704. Statement of Dissociation

(a) A dissociated member or a limited liability company may file in the office of the Secretary of State 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 3-301 and 7-703, a person not a member is deemed to […]