17-76,107. Distribution upon resignation.
17-76,107
17-76,107. Distribution upon resignation.
Except as provided in this act, upon resignation any
resigning member is entitled
to receive any distribution to which the member is entitled under the operating
agreement. If not
otherwise provided in the operating agreement, the resigning member is not
entitled to receive the
fair value of the member's limited liability company interest until the
dissolution and winding up
of the limited liability company. All distributions to a resigned member shall
be subject to the
provisions of K.S.A. 17-76,108, 17-76,109 and
17-76,110, and amendments thereto.
History: L. 1999, ch. 119, § 46; Jan. 1, 2000.