Member’s acceptance of limited liability company’s offer

Member’s acceptance of limited liability company’s offer. — (1) If the member states on the form provided in s. 605.1065 (1) that the member accepts the offer of the limited liability company to pay the limited liability company’s estimated fair value for the membership interest, the limited liability company shall make the payment to the member within 90 days after the limited liability company’s receipt of the items required by s. 605.1066 (1). (2) Upon payment of the agreed value, the member shall cease to have an interest in the membership interest.