Idaho Statutes
pecnv.out

TITLE 30
CORPORATIONS
CHAPTER 25
LIMITED LIABILITY COMPANIES
PART 6
DISSOCIATION
30-25-603.  EFFECT OF DISSOCIATION. (a) If a person is dissociated as a member:
(1)  The person’s right to participate as a member in the management and conduct of the limited liability company’s activities and affairs terminates;
(2)  The person’s duties and obligations under section 30-25-409, Idaho Code, as a member end with regard to matters arising and events occurring after the person’s dissociation; and
(3)  Subject to section 30-25-504, Idaho Code, and chapter 22, title 30, Idaho Code, any transferable interest owned by the person in the person’s capacity as a member immediately before dissociation is owned by the person solely as a transferee.
(b)  A person’s dissociation as a member does not of itself discharge the person from any debt, obligation, or other liability to the limited liability company or the other members which the person incurred while a member.

History:
[30-25-603, added 2015, ch. 243, sec. 48, p. 890.]


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