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

Nebraska Statutes

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

Nebraska·Ch. 21 Corporations and Other Companies

(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.

Nebraska § 21-146 (Effect of person's dissociation as member) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.