§ 48-2c-905. Redemption of interest.

Latest version.

(1)

Subject to Section 48-2c-1005, a member may rightfully demand payment from the company of the fair market value of the member's interest in the company only:

(a)	upon the dissolution and completion of winding up of the company; or

(b)	upon the date or occurrence of an event specified in the articles of organization or operating agreement for redemption of the member's interest.

(2)	Except as otherwise provided in the articles of organization or operating agreement or with consent of all members, a member, regardless of the nature of the member's contribution, has only the right to receive cash in redemption of the member's interest in the company.

Enacted by Chapter 260, 2001 General Session

                    
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