Source: https://code.dccouncil.us/dc/council/code/titles/29/chapters/8/subchapters/VI/
Timestamp: 2019-04-20 18:54:19+00:00

Document:
D.C. Law Library - Subchapter VI. Member’s Dissociation.
↪ Subchapter VI. Member’s Dissociation.
Subchapter V. Transferable Interests and Rights of Transferees and Creditors.
§ 29–806.01. Member’s power to dissociate; wrongful dissociation.
§ 29–806.02. Events causing dissociation.
§ 29–806.03. Effect of person’s dissociation as member.
(a) A person may dissociate as a member at any time, rightfully or wrongfully, by withdrawing as a member by express will under § 29-806.02(1).
(D) 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.
(c) A person that wrongfully dissociates as a member shall be liable to the limited liability company and, subject to § 29-808.01, to the other members for damages caused by the dissociation. The liability shall be in addition to any other debt, obligation, or other liability of the member to the company or the other members.
The 2013 amendment by D.C. Law 19-210 substituted “completion of the winding up” for “termination” in (b)(2).
Uniform Law: This section is based on § 601 of the Uniform Limited Company Act (2006 Act).
(15) The company dissolves and completes winding up.
This section is referenced in § 29-801.02, § 29-802.06, § 29-805.02, and § 29-806.01.
The 2013 amendment by D.C. Law 19-210 substituted “activities and affairs” for “activities” in (4)(A) and (5)(A); substituted “testamentary or inter vivos trust” for “trust” in (8); substituted “unincorporated entity” for “partnership, limited liability company” in (10); redesignated former (13) as present (15); in present (15) substituted “dissolves and completes winding up” for “terminates”; and added present (13) and (14) and made a related change.
Uniform Law: This section is based on § 602 of the Uniform Limited Company Act (2006 Act).
(3) Subject to § 29-805.04, subchapter IX of this chapter, and Chapter 2 of this title, any transferable interest owned by the person immediately before dissociation in the person’s capacity as a member is owned by the person solely as a transferee.
(b) A person’s dissociation as a member of a limited liability company shall not of itself discharge the person from any debt, obligation, or other liability to the company or the other members which the person incurred while a member.
The 2013 amendment by D.C. Law 19-210 substituted “activities and affairs” for “activities” in (a)(1); and substituted “duties and obligations under § 29-804.09” for “fiduciary duties as a member shall” in (a)(2).
Uniform Law: This section is based on § 603 of the Uniform Limited Company Act (2006 Act).

References: V. 

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