Statutes, codes, and regulations
Colorado Revised Statutes
Title 7 - CORPORATIONS AND ASSOCIATIONSLIMITED LIABILITY COMPANIESArticle 80 - LIMITED LIABILITY COMPANIES
Part 6 - DISTRIBUTIONS AND RESIGNATION
Section 7-80-602 - Resignation of member

Colo. Rev. Stat. § 7-80-602

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Current through Chapter 519 of the 2024 Legislative Session and Chapter 2 of the 2024 First Extraordinary Session
Section 7-80-602 - Resignation of member

A member may resign from a limited liability company at any time by giving notice to the other members, but, if the resignation violates the operating agreement, the limited liability company may recover from the resigning member damages for breach of the operating agreement and offset the damages against the amount otherwise distributable to the resigning member.

C.R.S. § 7-80-602

L. 90: Entire article added, p. 432, § 1, effective April 18. L. 94: Entire section amended, p. 717, § 21, effective July 1. L. 2004: Entire section amended, p. 943, § 11, effective July 1.