79-29-602 - Distribution upon dissociation. - Mississippi Statutes

§ 79-29-602. Distribution upon dissociation.
 

Except as provided in this chapter, upon dissociation any dissociating member is entitled to receive any distribution to which he is entitled under the certificate of formation or limited liability company agreement and, if not otherwise provided therein the dissociating member is entitled to receive, within a reasonable time after the dissociation, the fair value of his interest in the limited liability company as of the date of dissociation based upon his right to share in distributions from the limited liability company. 
 

Sources: Laws,  1994, ch. 402, § 38, eff from and after July 1, 1994.