17-76,106. Resignation of member. - Kansas Statutes

17-76,106

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

      17-76,106.   Resignation of member. A member may resign from a limited liability company only at the time or upon the happening of events specified in agreement and in accordance with the operating agreement. Notwithstanding anything to the contrary under applicable law, unless the operating agreement provides otherwise, a member may resign from a limited liability company prior to the dissolution and winding up of the limited liability company. Upon resignation the member shall be deemed to be an assignee and shall have only the rights of an assignee. The resigned member is not released from the member's liability, if any, to a limited liability company. Notwithstanding anything to the contrary under applicable law, the operating agreement may provide that a limited liability company interest may not be assigned prior to the dissolution and winding up of the limited liability company.

      History:   L. 1999, ch. 119, § 45; Jan. 1, 2000.