State Codes and Statutes

State Codes and Statutes

Statutes > Nebraska > Chapter21 > 21-144

21-144. Member's power to dissociate; wrongfuldissociation.(ULLCA601) (a) A person has the power to dissociate as a member at any time, rightfullyor wrongfully, by withdrawing as a member by express will under subdivision(1) of section 21-145.(b) A person's dissociationfrom a limited liability company is wrongful only if the dissociation:(1) is in breach of anexpress provision of the operating agreement; or(2) occurs before the terminationof the company and:(A)the person withdraws as a member by express will;(B) the person is expelled as amember by judicial order under subdivision (5) of section 21-145;(C) the person is dissociatedunder subdivision (7)(A) of section 21-145 by becoming a debtor in bankruptcy;or(D)in the case of a person that is not a trust other than a business trust, anestate, or an individual, the person is expelled or otherwise dissociatedas a member because it willfully dissolved or terminated.(c) A person that wrongfullydissociates as a member is liable to the limited liability company and, subjectto section 21-164, to the other members for damages caused by the dissociation.The liability is in addition to any other debt, obligation, or other liabilityof the member to the company or the other members. SourceLaws 2010, LB888, § 44.Operative Date: January 1, 2011