608.4358 Procedure if member is dissatisfied with offer.
608.4358 Procedure if member is dissatisfied with offer.
(1) A member who is dissatisfied with the limited liability company’s offer as set forth pursuant to s. 608.4356(2)(b)5. must notify the limited liability company on the form provided pursuant to s. 608.4356(1) of the member’s estimate of the fair value of the membership interest and demand payment of that estimate plus interest.
(2) A member who fails to notify the limited liability company in writing of the member’s demand to be paid the member’s estimate of the fair value plus interest under subsection (1) within the timeframe set forth in s. 608.4356(2)(b)2. waives the right to demand payment under this section and shall be entitled only to the payment offered by the limited liability company pursuant to s. 608.4356(2)(b)5.
History. s. 6, ch. 2005-267.