Friday, January 6, 2012

Resigning from a Kentucky LLC

Chapman v. Regional Radiology Assoc., PLLC
A Case Study in the Consequences of Resignation
         Chapman v. Regional Radiology Associates, PLLC, 2011 Ky. App. Unpub. LEXIS 251, considered the rights afforded a member of an LLC who had resigned.  Chapman, prior to his resignation, was a 40% member in the LLC.  For the year in which he resigned, Chapman asserted that he was entitled to 40% of the earnings accrued through the date of resignation.  The Court of Appeals (correctly) rejected that assertion.
          The Kentucky Law Journal Online has published my review of this decision, which article is available   HERE     
       Chapman filed a petition for discretionary review with the Kentucky Supreme Court; that petition was denied on December 15, 2011.

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