California Corporations Code

§ 17706.01

CORP § 17706.01 Effective Jan 1, 2013Title 2.6 · Art. 6

Statute text

(a)A person has the power to dissociate as a member at any time, rightfully or wrongfully, by withdrawing as a member by express will pursuant to subdivision (a) of Section 17706.02.

(b)A person’s dissociation from a limited liability company is wrongful only if either of the following apply to the dissociation:

(1)The dissociation is in breach of an express provision of the operating agreement.

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Legislative history

Added by Stats. 2012, Ch. 419, Sec. 20. (SB 323) Effective January 1, 2013. Operative January 1, 2014, by Sec. 32 of Ch. 419.