2014 Code of Alabama
Title 10A - ALABAMA BUSINESS AND NONPROFIT ENTITIES CODE.
Chapter 5A - LIMITED LIABILITY COMPANIES.
Section 10A-5A-11.05 - Member's power to dissociate as a member associated with a series; wrongful dissociation.
(a) A person has the power to dissociate as a member associated with a series.
(b) A person's dissociation from a series is wrongful only if:
(1) it is in breach of an express provision of the limited liability company agreement; or
(2) the person is expelled as a member associated with the series by judicial determination under Section 10A-5A-11.06(f); or
(3) the person is dissociated as a member associated with a series by becoming a debtor in bankruptcy or making a general assignment for the benefit of creditors.
(c) A person that wrongfully dissociates as a member associated with a series is liable to the series and, subject to Section 10A-5A-9.01, to the other members associated with that series for damages caused by the dissociation. The liability is in addition to any other debt, obligation, or liability of the member associated with a series to the series or the other members associated with that series.
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