2005 Idaho Code - 53-630 — DISTRIBUTIONS ON AN EVENT OF DISSOCIATION

                                  TITLE  53
                                 PARTNERSHIP
                                  CHAPTER 6
                     IDAHO LIMITED LIABILITY COMPANY ACT
    53-630.  DISTRIBUTIONS ON AN EVENT OF DISSOCIATION. Unless otherwise
provided in writing in an operating agreement, if a member dissociates from a
limited liability company without resulting in a dissolution under section
53-642, Idaho Code;
    (1)  And if the member is removed as a member pursuant to section
53-641(c), Idaho Code, then the member shall receive within a reasonable time
after dissociation the fair value of the member's interest in the limited
liability company as of the date of dissociation the limited liability company
as if the limited liability company were wound up as of that date;
    (2)  And if the event of dissociation is other than removal pursuant to
section 53-641(c), Idaho Code, the member shall be treated as an assignee from
the date of dissociation.