Indiana § 23-18-5-5 Dissociation; companies existing on or before June 30, 1999

Indiana Statutes

§ 23-18-5-5 — Dissociation; companies existing on or before June 30, 1999

Indiana § 23-18-5-5

Title 23BUSINESS AND OTHER ASSOCIATIONS

Art. 18LIMITED LIABILITY COMPANIES

Ch. 5Finance

This text of Indiana § 23-18-5-5 (Dissociation; companies existing on or before June 30, 1999) is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ind. Code § 23-18-5-5 (2026).

Text

(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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(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).