2012 Statute
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17-7691. Remedies for breach of operating agreement by member. An operating agreement may provide that: (a) A member who fails to perform in accordance with, or to comply with the terms and conditions of, the operating agreement shall be subject to specified penalties or specified consequences; and (b) at the time or upon the happening of events specified in the operating agreement, a member shall be subject to specified penalties or specified consequences. |
History: L. 1999, ch. 119, § 30; Jan. 1, 2000. |
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