Delaware § 18-306 Remedies for breach of limited liability company agreement by member

Delaware Statutes

§ 18-306 — Remedies for breach of limited liability company agreement by member

Delaware § 18-306

Title6

Ch. 18LIMITED LIABILITY COMPANY ACT

Subch.Members

This text of Delaware § 18-306 (Remedies for breach of limited liability company agreement by member) is published on Counsel Stack Legal Research, covering Delaware primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Del. Code tit. 6, § 18-306 (2026).

Text

A limited liability company agreement may provide that:

(1)A member who fails to perform in accordance with, or to comply with the terms and conditions of, the limited liability company agreement shall be subject to specified penalties or specified consequences; and

(2)At the time or upon the happening of events specified in the limited liability company agreement, a member shall be subject to specified penalties or specified consequences. Such specified penalties or specified consequences may include and take the form of any penalty or consequence set forth in § 18-502(c) of this title.

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A limited liability company agreement may provide that:

(1) A member who fails to perform in accordance with, or to comply with the terms and conditions of, the limited liability company agreement shall be subject to specified penalties or specified consequences; and

(2) At the time or upon the happening of events specified in the limited liability company agreement, a member shall be subject to specified penalties or specified consequences.

Such specified penalties or specified consequences may include and take the form of any penalty or consequence set forth in § 18-502(c) of this title.