District of Columbia § 29-806.03 Effect of person’s dissociation as member.

District of Columbia Statutes

§ 29-806.03 — Effect of person’s dissociation as member.

District of Columbia § 29-806.03

Title 29Business Organizations. [Enacted title]

Ch. 8Limited Liability Companies.

Subch. VIMember’s Dissociation.

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Bluebook

D.C. Code § 29-806.03 (2026).

Text

(a)When a person is dissociated as a member of a limited liability company:

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

(2)If the company is member-managed, the person’s duties and obligations under § 29-804.09 end with regard to matters arising and events occurring after the person’s dissociation; and

(3)Subject to § 29-805.04 , subchapter IX of this chapter , and Chapter 2 of this title , any transferable interest owned by the person immediately before dissociation in the person’s capacity as a member is owned by the person solely as a transferee.

(b)A person’s dissociation as a member of a limited liability company shall not of itself discharge the person from any debt, obligation,

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(a) When a person is dissociated as a member of a limited liability company:

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

(2) If the company is member-managed, the person’s duties and obligations under § 29-804.09 end with regard to matters arising and events occurring after the person’s dissociation; and

(3) Subject to § 29-805.04 , subchapter IX of this chapter , and Chapter 2 of this title , any transferable interest owned by the person immediately before dissociation in the person’s capacity as a member is owned by the person solely as a transferee.

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