21-2983. Effect of dissociation as member.
(1) Upon a person's dissociation as a member:
(a) A person dissociated pursuant to section 21-2982 does not have further rights as a member; and
(b) Subject to sections 21-2947 and 21-2948, any financial rights owned by the person in the person's capacity as a member immediately before dissociation are owned by the person as a transferee who is not admitted as a member after dissociation.
(2) A person's dissociation as a member does not of itself discharge the person from any obligation to the limited cooperative association which the person incurred while a member.
Source
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