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- Alaska Statutes.
- Title 10. Corporations and Associations
- Chapter 50. Alaska Revised Limited Liability Company Act
- Section 215. Termination of Membership Held By Trust, Trustee, or Estate.
previous: Section 210
. Effect of Death or Incompetency On Membership.
next: Section 220
. Termination On Dissolution of Member.
AS 10.50.215. Termination of Membership Held By Trust, Trustee, or Estate.
- (a) Unless otherwise provided in an operating agreement of the company or by the written consent of all of the members of
the company at the time, the limited liability company membership held by a trust or trustee terminates when the trust
terminates. In this subsection, "terminates" does not include the substitution of a new trustee.
- (b) Unless otherwise provided in an operating agreement of the company or by the written consent of all of the members of
the company at the time, the limited liability company membership held by an estate terminates when the estate's entire
limited liability company interest is distributed by the fiduciary of the estate.
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