Effect of dissociation as member.
D.C. Code § 29-1011.02
in effect29-1011.02. Effect of dissociation as member.
(a)
Upon a member’s dissociation:
(1)
The person’s right to participate as a member in the management and conduct of the association’s activities and affairs terminates; and
(2)
Subject to § 29-1011.03, subchapter XV of this chapter, and Chapter 2 of this title, any financial rights owned by the person in the person’s capacity as a member are owned by the person as a transferee.
(b)
A person’s dissociation as a member shall not of itself discharge the person from any debt, obligation, or other liability to the limited cooperative association or to the members which the person incurred while a member.
(July 2, 2011, D.C. Law 18-378, § 2, 58 DCR 1720; Mar. 5, 2013, D.C. Law 19-210, § 2(j)(7)(B), 59 DCR 13171.)
Source: Council of the District of Columbia (code.dccouncil.gov)URL: https://code.dccouncil.gov/us/dc/council/code/sections/29-1011.02Fetched: 10/21/2026