{"data":{"id":"us-mn/minn.-stat.-322c.0603","jurisdiction":"us-mn","citation":"Minn. Stat. § 322C.0603","heading":"EFFECT OF PERSON'S DISSOCIATION AS MEMBER.","body":"Subdivision 1. Effect of dissociation.\nWhen a person is dissociated as a member of a limited liability company:\n(1) the person's right to participate as a member in the management and conduct of the company's activities terminates;\n(2) if the company is member-managed, the person's fiduciary duties as a member end with regard to matters arising and events occurring after the person's dissociation; and\n(3) subject to sections 322C.0504 and 322C.1001 to 322C.1015, 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.\nSubd. 2. No discharge.\nA person's dissociation as a member of a limited liability company does not of itself discharge the person from any debt, obligation, or other liability to the company or the other members that the person incurred while a member.","path":["BUSINESS, SOCIAL, AND CHARITABLE ORGANIZATIONS","CHAPTER 322C. MINNESOTA REVISED UNIFORM LIMITED LIABILITY COMPANY","MEMBER'S DISSOCIATION"],"source_url":"https://www.revisor.mn.gov/statutes/cite/322C.0603","current_through":"2025 Minnesota Statutes","vintage":"","retrieved_at":"2026-09-02T22:10:42Z","sha256":"195fc9b5c16cadcb5d899cc7506761dbd2f40ae7dfd07744c190e6035cc15dd4","source_id":"us-mn","stale":false,"prev":"us-mn/minn.-stat.-322c.0602","next":"us-mn/minn.-stat.-322c.0701"},"notice":"GroundRules: Original legal text. Not legal advice."}