TITLE 30

CORPORATIONS

CHAPTER 30

IDAHO NONPROFIT CORPORATION ACT

PART 4

MEMBERSHIP

30-30-408.  Resignation. (1) A member may resign at any time. A person ceases to be a stockholder only when that person’s shares of stock have all been disposed of.

(2)  The resignation of a member, or the disposal of all stock of a stockholder, does not relieve the member from any obligations the member may have to the corporation as a result of obligations incurred or commitments made prior to resignation.

(3)  The provisions of title 42, Idaho Code, shall also apply to all resignations pursuant to this section if a company or corporation is regulated or governed pursuant to that title.

History:

[30-30-408, added 2015, ch. 243, sec. 77, p. 976.]