17-76,107

Chapter 17.--CORPORATIONS
Article 76.--LIMITED LIABILITY COMPANIES

      17-76,107.   Distribution upon resignation.Except as provided in this act, upon resignation anyresigning member is entitledto receive any distribution to which the member is entitled under the operatingagreement. If nototherwise provided in the operating agreement, the resigning member is notentitled to receive thefair value of the member's limited liability company interest until thedissolution and winding upof the limited liability company. All distributions to a resigned member shallbe subject to theprovisions of K.S.A. 17-76,108, 17-76,109 and17-76,110, and amendments thereto.

      History:   L. 1999, ch. 119, § 46; Jan. 1, 2000.