§ 25.15.140. Remedies for breach of limited liability company agreement by member
A limited liability company agreement may provide that (1) a member who fails to perform in accordance with, or to comply with the terms and conditions of, the limited liability company agreement shall be subject to specified penalties or specified consequences, and (2) at the time or upon the happening of events specified in the limited liability company agreement, a member shall be subject to specified penalties or specified consequences.
[1994 c 211 § 306.]
Sections: Previous 25.15.100 25.15.105 25.15.115 25.15.120 25.15.125 25.15.130 25.15.135 25.15.140 25.15.150 25.15.155 25.15.160 25.15.165 25.15.170 25.15.175 25.15.180 NextLast modified: April 7, 2009