Death or Incompetency of a Member. The death, retirement, resignation, expulsion or incompetency of a Member shall not cause the dissolution of the Company or entitle the Member to a return of his or her contribution of the capital of the Company. Upon the death or incompetency of a Member, his or her Company interest shall pass to his or her estate or his personal representative, as the case may be, and such estate or personal representative shall have all the rights of a Member for the purpose of settling his or her estate, and such estate or his or her personal representative of such Member shall be liable for all his or her liabilities as a Member.
Appears in 10 contracts
Samples: Limited Liability Company Agreement, Limited Liability Company Agreement, Limited Liability Company Agreement
