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Section 79-29-407 - Resignation of manager — Mississippi Law | CourtGPT
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  2. Laws/
  3. Mississippi/
  4. Title 79 - Corporations, Associations, and Partnerships/
  5. Chapter 29 - Revised Mississippi Limited Liability Company Act/
  6. Article 4 - Management/
  7. Section 79-29-407 - Resignation of manager
Mississippi Legal Code

Section 79-29-407 - Resignation of manager

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An operating agreement may provide that a manager may resign as a manager of 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. An operating agreement may provide that a manager shall not have the right to resign as a manager of a limited liability company. A manager may resign as a manager of a limited liability company at any time by giving written notice to the members and other managers. If the resignation of a manager violates an operating agreement, in addition to any remedies otherwise available under applicable law, a limited liability company may recover from the resigning manager damages for breach of the operating agreement and offset the damages against the amount otherwise payable to the resigning manager. Laws, 2010, ch. 532, § 1, eff. 1/1/2011.