Except as otherwise provided in the articles of organization or any operating agreement: (1) A member shall cease to be a member in a limited liability company upon the members death, incompetency, bankruptcy, dissolution, withdrawal, expulsion or assignment of the members entire membership interest. (2)(a) Except as otherwise provided in paragraph (b) of this subsection, following the cessation of the members interest, the holder of the former members interest shall be considered an assignee of such interest and shall have all the rights, duties and obligations of an assignee under this chapter. (b) If the member who ceases to be a member is the only member of the limited liability company, the holder of the former members interest shall become a member simultaneously with and upon the cessation of the former members interest.
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