§ 8948. Limitation on dissociation or assignment of membership interest.
Notwithstanding anything to the contrary set forth in this part, an operating agreement may provide that a member may not voluntarily dissociate from the limited liability company or assign his membership interest prior to the dissolution and winding-up of the company, and an attempt by a member to dissociate voluntarily from the company or to assign his membership interest in violation of the operating agreement shall be ineffective.
(June 22, 2001, P.L.418, No.34, eff. 60 days)
Section: Previous 8941 8942 8943 8944 8945 8946 8947 8948 8951 8956-167-8959 8961-167-8965 8971 8972 8973 8974 NextLast modified: October 8, 2016