605.1068 Procedure if member is dissatisfied with offer.—
(1) A member who is dissatisfied with the limited liability company’s offer as provided pursuant to s. 605.1065(2)(b)4. must notify the limited liability company on the form provided pursuant to s. 605.1065(1) of the member’s estimate of the fair value of the membership interest and demand payment of that estimate plus accrued interest.
(2) A member who fails to notify the limited liability company in writing of the member’s demand to be paid the member’s estimate of the fair value plus interest under subsection (1) within the timeframe provided in s. 605.1065(2)(b)2. waives the right to demand payment under this section and is entitled only to the payment offered by the limited liability company pursuant to s. 605.1065(2)(b)4.
History.—s. 2, ch. 2013-180.
Section: Previous 605.1061 605.1062 605.1063 605.1064 605.1065 605.1066 605.1067 605.1068 605.1069 605.1070 605.1071 605.1072 605.1101 605.1102 605.1103 NextLast modified: September 23, 2016