§1581. Member’s power to dissociate; wrongful dissociation 1. Power to dissociate. A person has the power to dissociate as a member. [PL 2009, c. 629, Pt. A, §2 (NEW); PL 2009, c. 629, Pt. A, §3 (AFF).] 2. Wrongful dissociation. A person’s dissociation from a limited liability company is wrongful only if: A. […]
§1582. Events causing dissociation A person is dissociated as a member from a limited liability company when: [PL 2009, c. 629, Pt. A, §2 (NEW); PL 2009, c. 629, Pt. A, §3 (AFF).] 1. Notice. The limited liability company has notice from the person of the person’s express will to dissociate as a member, […]
§1583. Effect of person’s dissociation as a member 1. No right to participate. A person who has dissociated as a member has no right to participate in the activities and affairs of the limited liability company and is entitled only to receive the distributions to which that member would have been entitled if the member […]
