§ 25.15.180. Resignation of manager
A manager may resign as a manager of a limited liability company at the time or upon the happening of events specified in a limited liability company agreement and in accordance with the limited liability company agreement. A limited liability company agreement may provide that a manager shall not have the right to resign as a manager of a limited liability company. Notwithstanding that a limited liability company agreement provides that a manager does not have the right to resign as a manager of a limited liability company, a manager may resign as a manager of a limited liability company at any time by giving written notice to the members and other managers. If the resignation of a manager violates a limited liability company agreement, in addition to any remedies otherwise available under applicable law, a limited liability company may recover from the resigning manager damages for breach of the limited liability company agreement and offset the damages against the amount otherwise distributable to the resigning manager.
[1994 c 211 § 407.]
Sections: Previous 25.15.140 25.15.150 25.15.155 25.15.160 25.15.165 25.15.170 25.15.175 25.15.180 25.15.185 25.15.190 25.15.195 25.15.200 25.15.205 25.15.215 25.15.220 NextLast modified: April 7, 2009