17-76,107. Distribution upon resignation. - Kansas Statutes

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 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.