As used in this article, the term:
(1) "Beneficial member" means the person who is a beneficial owner
of the membership interest held in a voting trust or by a nominee
as the record member.
(2) "Dissenter" means a member who is entitled to dissent from limited liability company action under Code Section 14-11-1002 and who exercises that right when and in the manner required by Code Sections 14-11-1003 through 14-11-1010.
(3) "Fair value" with respect to a membership interest means the
value of the membership interest immediately before the
effectuation of the limited liability company action to which the
dissenter objects, excluding any appreciation or depreciation in
anticipation of such action.
(4) "Interest" means interest from the effective date of the
limited liability company action until the date of payment, at a
rate that is fair and equitable under all the circumstances.
(5) "Limited liability company" means the limited liability
company of which the dissenter is a member before the limited
liability company action to which the dissenter objects or the
surviving entity by merger of that limited liability company.
(6) "Member" means the record member or the beneficial member.
(7) "Membership interest" means a member's rights in the limited
liability company, collectively, including the member's share of
the profits and losses of the limited liability company, the right
to receive distributions of the limited liability company's
assets, and any right to vote or participate in management.
(8) "Record member" means the person in whose name the membership
interest is registered in the records of a limited liability