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This entry was published on 2014-09-22
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SECTION 606
Withdrawal of a member
Limited Liability Company Law (LLC) CHAPTER 34, ARTICLE 6
§ 606. Withdrawal of a member. (a) A member may withdraw as a member
of a limited liability company only at the time or upon the happening of
events specified in the operating agreement and in accordance with the
operating agreement. Notwithstanding anything to the contrary under
applicable law, unless an operating agreement provides otherwise, a
member may not withdraw from a limited liability company prior to the
dissolution and winding up of the limited liability company.
Notwithstanding anything to the contrary under applicable law, an
operating agreement may provide that a membership interest may not be
assigned prior to the dissolution and winding up of the limited
liability company.

(b) A limited liability company whose original article of organization
were filed with the secretary of state and effective prior to the
effective date of this subdivision shall continue to be governed by this
section as in effect on such date and shall not be governed by this
section, unless otherwise provided in the operating agreement.