490A.704 - WITHDRAWAL OF MEMBER.
490A.704 WITHDRAWAL OF MEMBER. A member may withdraw from a limited liability company at the time or upon the happening of events specified in writing in the articles of organization or an operating agreement. If the articles of organization or an operating agreement does not specify in writing the time or the events upon the happening of which a member may withdraw, a member may withdraw upon not less than six months' prior written notice to each member at the member's address on the books of the limited liability company. The articles of organization or an operating agreement may prohibit withdrawal by a member.
Section History: Recent Form 92 Acts, ch 1151, § 38; 93 Acts, ch 39, § 26 Referred to in § 490A.704A