Indiana Statutes
§ 23-18-4-11 — Resignation of manager
Indiana·Title 23 BUSINESS AND OTHER ASSOCIATIONS·Art. 18 LIMITED LIABILITY COMPANIES·Ch. 4 Rights and Duties of Members and Managers
(a)A manager may resign as a manager of
a limited liability company at the time or upon the happening of events
specified in an operating agreement and in accordance with the
operating agreement.
(b)A written operating agreement may provide that a manager does
not have the right to resign as a manager of a limited liability company.
Notwithstanding any provision in an operating agreement to the
contrary, a manager may resign as a manager of a limited liability
company at any time by giving written notice to the members and other
managers. If the resignation of a manager violates the operating
agreement, in addition to any remedies otherwise available under
applicable law, a limited liability company may recover from the
resigning manager damages for breach of the operating agreement and
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Legislative History
As added by P.L.8-1993, SEC.301.
Nearby Sections
15
§ 23-0.5-1-1
Short title§ 23-0.5-1-2
Application§ 23-0.5-1-3
Application; exceptions§ 23-0.5-1-4
Delivery of record§ 23-0.5-1-5
Rules and procedures§ 23-0.5-1-6
Terms dependent on facts ascertainable outside the plan or filed
document; articles of amendment§ 23-0.5-1.5-1
Application of definitions§ 23-0.5-1.5-10
"Filed record"§ 23-0.5-1.5-11
"Filing entity"§ 23-0.5-1.5-12
"Foreign"§ 23-0.5-1.5-13
"General partnership"§ 23-0.5-1.5-14
"Governance interest"§ 23-0.5-1.5-15
"Governing person"§ 23-0.5-1.5-16
"Interest"§ 23-0.5-1.5-17
"Interest holder"