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NOTE: This section was repealed by L.2012, c. 50, effective 2014-03-01.
New Jersey Statutes, Title: 42, PARTNERSHIPS AND PARTNERSHIP ASSOCIATIONS
Chapter 2b:
Section: 42:2b-38: Resignation of member
38. A member may resign from a limited liability company at the time or upon the happening of events specified in an operating agreement and in accordance with the operating agreement. If an operating agreement does not specify the time or the events upon the happening of which a member may resign or a definite time for the dissolution and winding up of a limited liability company, a member may resign upon not less than six months' prior written notice to the limited liability company at its registered office as set forth in the certificate of formation filed in the office of the Secretary of State and to each member and manager at each member's and manager's address as set forth on the records of the limited liability company. Notwithstanding anything to the contrary set forth in this act, an operating agreement may provide that a member may not resign from a limited liability company or assign his limited liability company interest prior to the dissolution and winding up of the limited liability company.
L.1993,c.210,s.38.
This section added to the Rutgers Database: 2012-09-26 13:37:53.
Older versions of 42:2b-38 (if available):
Court decisions that cite this statute:
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