District of Columbia § 29-1011.02 Effect of dissociation as member.

District of Columbia Statutes

§ 29-1011.02 — Effect of dissociation as member.

District of Columbia § 29-1011.02

Title 29Business Organizations. [Enacted title]

Ch. 10Limited Cooperative Associations.

Subch. XIDissociation.

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Bluebook

D.C. Code § 29-1011.02 (2026).

Text

(a)Upon a member’s dissociation:

(1)The person’s right to participate as a member in the management and conduct of the association’s activities and affairs terminates; and

(2)Subject to § 29-1011.03 , subchapter XV of this chapter , and Chapter 2 of this title , any financial rights owned by the person in the person’s capacity as a member are owned by the person as a transferee.

(b)A person’s dissociation as a member shall not of itself discharge the person from any debt, obligation, or other liability to the limited cooperative association or to the members which the person incurred while a member.

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(a) Upon a member’s dissociation:

(1) The person’s right to participate as a member in the management and conduct of the association’s activities and affairs terminates; and

(2) Subject to § 29-1011.03 , subchapter XV of this chapter , and Chapter 2 of this title , any financial rights owned by the person in the person’s capacity as a member are owned by the person as a transferee.

(b) A person’s dissociation as a member shall not of itself discharge the person from any debt, obligation, or other liability to the limited cooperative association or to the members which the person incurred while a member.