(1) When a person is dissociated as a member of a limited liability company: (a) The person's right to participate as a member in the management and conduct of the company's activities terminates; (b) If the company is member-managed, the person's fiduciary duties as a member end with regard to matters arising and events occurring after the person's dissociation; and (c) Subject to section 30-6-504 , Idaho Code, and chapter 18, title 30 , Idaho Code, any transferable interest owned by the person immediately before dissociation in the person's capacity as a member is owned by the person solely as a transferee. (2) A person's dissociation as a member of a limited liability company does not of itself discharge the person from any debt, obligation or other liability to the company or the other members which the person incurred while a member.
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