Nebraska § 21-146 Effect of person's dissociation as
member

Nebraska Statutes

§ 21-146 — Effect of person's dissociation as member

Nebraska § 21-146

Ch. 21Corporations and Other Companies

This text of Nebraska § 21-146 (Effect of person's dissociation as member) is published on Counsel Stack Legal Research, covering Nebraska primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Neb. Rev. Stat. § 21-146 (2026).

Text

(RULLCA 603) (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 terminates;

(2)if the company is member-managed, the person's fiduciary duties as a member end with regard to matters arising and events occurring after the person's dissociation; and

(3)subject to section 21-143 and sections 21-170 to 21-184 , 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 does not of itself discharge the person from any debt, obligation, or other liability to the company or the other mem

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(RULLCA
603) (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 terminates;
(2)
if the company is member-managed, the person's fiduciary duties as a member
end with regard to matters arising and events occurring after the person's
dissociation; and
(3)
subject to section 21-143 and sections 21-170 to 21-184 , 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 does 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.