2015 Idaho Statutes
Title 30 - CORPORATIONS
Chapter 6 - IDAHO UNIFORM LIMITED LIABILITY COMPANY ACT
Part 6 - MEMBER'S DISSOCIATION
Section 30-6-601 - MEMBER'S POWER TO DISSOCIATE -- WRONGFUL DISSOCIATION.

30-6-601. Member's power to dissociate -- Wrongful dissociation. (1) A person has the power to dissociate as a member at any time, rightfully or wrongfully, by withdrawing as a member by express will under section 30-6-602(1), Idaho Code.

(2) A person's dissociation from a limited liability company is wrongful only if the dissociation:

(a) Is in breach of an express provision of the operating agreement; or

(b) Occurs before the termination of the company and:

(i) The person withdraws as a member by express will;

(ii) The person is expelled as a member by judicial order under section 30-6-602(5), Idaho Code;

(iii) The person is dissociated under section 30-6-602(7)(a), Idaho Code, by becoming a debtor in bankruptcy; or

(iv) In the case of a person that is not a trust other than a business trust, an estate or an individual, the person is expelled or otherwise dissociated as a member because it willfully dissolved or terminated.

(3) A person that wrongfully dissociates as a member is liable to the limited liability company and, subject to section 30-6-901, Idaho Code, to the other members for damages caused by the dissociation. The liability is in addition to any other debt, obligation or other liability of the member to the company or the other members.

History:

[30-6-601, added 2008, ch. 176, sec. 1, p. 505.]