[§428-405] Sharing of and right to distributions.
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[§428-405] Sharing of and right to distributions.
(a)Any distributions made by a limited liability company, prior to dissolution and winding up, must be in equal shares.
(b)A member has no right to receive, and may not be required to accept, a distribution in kind.
(c)If a member becomes entitled to receive a distribution, the member has the status of, and is entitled to all remedies available to, a creditor of the limited liability company with respect to the distribution. [L 1996, c 92, pt of §1]