ARS Section 29-734 Withdrawal of Member

ARS Section 29-734 Withdrawal of Member2017-02-25T05:22:40+00:00

A member may withdraw from a limited liability company at any time on mailing or delivering written notice of withdrawal to the other members at their last known addresses set forth in the list maintained by the limited liability company pursuant to section 29-607, subsection A, paragraph 1, but if the withdrawal violates an operating agreement, the limited liability company may recover from the withdrawing member damages for breach of an operating agreement and offset the damages against any amount otherwise distributable to him.

Caution:  The above language was taken from Arizona’s statutes on November 13, 2016.  Check the Arizona legislature’s website to determine if this statute changed after November 13, 2016.