605.1072 Other remedies limited.—
(1) The legality of a proposed or completed appraisal event may not be contested, and the appraisal event may not be enjoined, set aside, or rescinded, in a legal or equitable proceeding by a member after the members have approved the appraisal event.
(2) Subsection (1) does not apply to an appraisal event that:
(a) Was not authorized and approved in accordance with the applicable provisions of this chapter, the organic rules of the limited liability company, or the resolutions of the members authorizing the appraisal event; or
(b) Was procured as a result of fraud, a material misrepresentation, or an omission of a material fact that is necessary to make statements made, in light of the circumstances in which they were made, not misleading.
History.—s. 2, ch. 2013-180; s. 9, ch. 2015-148.
Section: Previous 605.1065 605.1066 605.1067 605.1068 605.1069 605.1070 605.1071 605.1072 605.1101 605.1102 605.1103 605.1104 605.1105 605.1106 605.1107 NextLast modified: September 23, 2016