Effect of the dissociation of a person as member
N.D. Cent. Code § 10-32.1-49
in effect10-32.1-49. Effect of the dissociation of a person as member
1. When a person is dissociated as a member of a limited liability company:
a. The right of the person to participate as a member in the management and
conduct of the activities of the company terminates;
b. If the company is member-managed, then the fiduciary duties of the person as a
member end with regard to matters arising and events occurring after the
dissociation of the person; and
c. Subject to sections 10-32.1-46 and 10-32.1-55 through 10-32.1-71, any
transferable interest owned by the person immediately before dissociation in the
capacity of the person as a member is owned by the person solely as a
transferee.
2. The dissociation of a person as a member of a limited liability company does not of
itself discharge the person from any debt, obligation, or other liability to the company
or the other members that the person incurred while a member.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://ndlegis.gov/cencode/t10c32-1.pdf#nameddest=10-32p1-49Fetched: 10/16/2026