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K.S.A. § 17-7691

Remedies for breach of operating agreement by member

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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.

Such specified penalties or specified consequences may include and take the form of any penalty or consequence set forth in subsection (c) of K.S.A. 17-76,100, and amendments thereto.

History: L. 1999, ch. 119, § 30; L. 2014, ch. 40, § 25; July 1.


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Notes of Decisions
Cited in 2 cases, 2003–2011 · leading case: CANYON CREEK DEVELOPMENT, LLC v. Fox
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CANYON CREEK DEVELOPMENT, LLC v. Fox (2011) kanctapp · cites it 4× “” *375 K.S.A. 17-7691 provides in part: “(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 tire happening of…”
Investcorp, L.P. v. Simpson Investment Co. (2003) kan “17-2003 76,134(c)(2) (Member’s or manager’s or other person’s duties and liabilities may be expanded or restricted by provisions in an operating agreement); K.S.A. 2003 Supp. 17-7691 and K.S.A. 2003 Supp.”
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