Kansas Statutes Annotated
Updated Through the 2014 Legislative Session

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Statute Number:17-76,105
Chapter Title:CORPORATIONS
Article Title:LIMITED LIABILITY COMPANIES
Tax Type:Corporate Income Tax; Corporation Franchise Tax
Brief Description:Resignation of manager.
Keywords:


Body:

17-76,105.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 an operating agreement and in accordance with the operating agreement. An operating agreement may provide that a manager shall not have the right to resign as a manager of a limited liability company. Notwithstanding that an operating 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 an operating 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 operating agreement and offset the damages against the amount otherwise distributable to the resigning manager.
History:L. 1999, ch. 119, 44; L. 2014, ch. 40, 33; July 1.



Date Composed: 11/14/2014 Date Modified: 11/14/2014

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