47-34A-405. Sharing of and right to distributions.
75 words·~1 min read·
/sd/title-47/chapter-47-34/47-34a-405A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)Any distributions made by a limited liability company before its 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.