Arizona § 29-3603 Effect of dissociation

Arizona Statutes

§ 29-3603 — Effect of dissociation

Arizona § 29-3603

Title 29Arizona Revised Statutes

Ch. 7ARIZONA LIMITED LIABILITY COMPANY ACT

Art. 6Dissociation

This text of Arizona § 29-3603 (Effect of dissociation) is published on Counsel Stack Legal Research, covering Arizona primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ariz. Rev. Stat. Ann. § 29-3603 (2026).

Text

A.If a person is dissociated as a member, all of the following apply:

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 29-3409 as a member end with regard to matters arising and events occurring after the person's dissociation.

3.Subject to section 29-3504 and article 10 of this chapter, 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 that the per

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A. If a person is dissociated as a member, all of the following apply:

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 29-3409 as a member end with regard to matters arising and events occurring after the person's dissociation.

3. Subject to section 29-3504 and article 10 of this chapter, 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 that the person incurred while a member.