(a) Unless otherwise provided in an operating agreement of the company or by the written consent of all of the members of the company at the time, a limited liability company membership of a member that is a separate limited liability company terminates when the member dissolves and begins to wind up its affairs.
(b) Unless otherwise provided in an operating agreement of the company or by the written consent of all of the members of the company at the time, a limited liability company membership of a member that is a corporation terminates when the corporation is dissolved and 90 days lapse without reinstatement.
Structure Alaska Statutes
Title 10. Corporations and Associations
Chapter 50. Alaska Revised Limited Liability Company Act
Sec. 10.50.155. Membership requirements.
Sec. 10.50.160. Effective date of admission.
Sec. 10.50.165. Authorization for assignee to become member.
Sec. 10.50.170. Rights, powers, and liabilities of assignee who becomes a member.
Sec. 10.50.180. Rights of assignor when assignee becomes a member.
Sec. 10.50.185. Resignation of member.
Sec. 10.50.205. Removal of member.
Sec. 10.50.210. Effect of death or incompetency on membership.
Sec. 10.50.215. Termination of membership held by trust, trustee, or estate.