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Code · Kansas · Chapter 17 — Corporations

17-7696. Remedies for breach of operating agreement by manager.

73 words·~1 min read·/ks/chapter-17/17-7696

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17-7696. Remedies for breach of operating agreement by manager. An operating agreement may provide that:
(a)A manager 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 manager shall be subject to specified penalties or specified consequences.
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