Ala. Code § 10A-5A-11.05: Member’s Power to Dissociate as a Member Associated with a Series; Wrongful Dissociation.
Where this section sits in the code
- Title 10A Alabama Business and Nonprofit Entities Code.
- Chapter 5A Alabama Limited Liability Company Law of 2014.
- Article 11 Series Provisions.
(a) A person has the power to dissociate as a member associated with a series.
(b) A person’s dissociation from a series is wrongful only if:
(1) it is in breach of an express provision of the limited liability company agreement; or
(2) the person is expelled as a member associated with the series by judicial determination under Section 10A-5A-11.06(f); or
(3) the person is dissociated as a member associated with a series by becoming a debtor in bankruptcy or making a general assignment for the benefit of creditors.
(c) A person that wrongfully dissociates as a member associated with a series is liable to the series and, subject to Section 10A-5A-9.01, to the other members associated with that series for damages caused by the dissociation. The liability is in addition to any other debt, obligation, or liability of the member associated with a series to the series or the other members associated with that series.
Collected 2026-09-03T14:01:53Z. Source file · JSON