17-76,105. Resignation of manager.
17-76,105
17-76,105. Resignation of manager.
A manager may resign as a manager of a limited
liability company at the time or
upon the happening of events specified in agreement and in accordance with the
limited liability
company agreement. An operating agreement may provide that a manager shall
not have the right to resign as a manager of a limited liability company.
Notwithstanding that an operating agreement
provides that a manager does not have the right to resign as a manager of a
limited liability company,
a manager may resign as a manager of a limited liability company at any time by
giving written
notice to the members and other managers. If the resignation of a manager
violates an operating
agreement, in addition to any remedies otherwise available under applicable
law, a limited liability
company may recover from the resigning manager damages for breach of the
operating agreement
and offset the damages against the amount otherwise distributable to the
resigning manager.
History: L. 1999, ch. 119, § 44; Jan. 1, 2000.