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New York Limited Liability Company Law Section 415 - Resignation Of Managers.

Legal Research Home > New York Lawyer > Limited Liability Company > New York Limited Liability Company Law Section 415 - Resignation Of Managers.

    § 415.  Resignation  of managers. Except as provided in the operating
  agreement, a manager may resign at any time by giving written notice  to
  the   limited   liability   company;  provided,  however,  that  if  the
  resignation violates any provision contained in the operating  agreement
  or  the  provision  of any contractual agreement between the manager and
  the limited liability company, the limited liability company may recover
  from such manager damages for such breach as provided by such  operating
  agreement  or contract or by law. The election of a manager shall not of
  itself create contract rights.

Last modified: August 10, 2006