New York Limited Liability Company Law Section 509 - Distribution upon withdrawal.

  509.  Distribution  upon  withdrawal.  Except  as  provided in this
  chapter, upon withdrawal as a member of the limited  liability  company,
  any  withdrawing member is entitled to receive any distribution to which
  he or she  is  entitled  under  the  operating  agreement  and,  if  not
  otherwise  provided in the operating agreement, he or she is entitled to
  receive, within a reasonable time after withdrawal, the  fair  value  of
  his  or  her  membership interest in the limited liability company as of
  the date of  withdrawal  based  upon  his  or  her  right  to  share  in
  distributions from the limited liability company.

Last modified: February 3, 2019