Indiana Statutes
§ 23-18-5-5 — Dissociation; companies existing on or before June 30, 1999
(a)Unless otherwise provided in a written
operating agreement, a limited liability company existing under this
article on or before June 30, 1999, is governed by this section.
(b)Upon the occurrence of an event of dissociation under IC 23-18-6-5 that does not cause dissolution, a dissociating member is
entitled to receive:
(1)any distribution that the member is entitled to under this
article or the operating agreement; and
(2)unless otherwise provided in the operating agreement, within
a reasonable time after dissociation, the fair value of the member's
interest in the limited liability company as of the date of
dissociation based on the member's right to share in distributions
from the limited liability company, less a distribution received
under subdivision (1).
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Related
Perkins v. Brown
901 N.E.2d 63 (Indiana Court of Appeals, 2009)
Legislative History
As added by P.L.8-1993, SEC.301. Amended by P.L.269-1999,
SEC.4; P.L.130-2006, SEC.29.
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"