New York Limited Liability Company Law Article 5 - CONTRIBUTIONS AND DISTRIBUTIONS

• 501 - Form of Capital Contributions.
  The contribution of a member to the capital of a limited liability company may be in cash, property or services rendered or a promissory note...
• 502 - Liability for Contributions.
  (a) Except as provided in the operating agreement, a member is obligated to the limited liability company to perform any promise to contribute cash or...
• 503 - Sharing of Profits and Losses.
  The profits and losses of a limited liability company shall be allocated among the members, and among the classes of members, if any, in the...
• 504 - Sharing of Distributions.
  Distributions of cash or other assets of a limited liability company shall be allocated among the members, and among classes of members, if any, in...
• 505 - Distributions in Kind.
  (a) Except as provided in the operating agreement, a member, regardless of the nature of his or her contribution, has no right to demand and...
• 506 - Right to Distribution.
  Subject to sections five hundred eight and seven hundred four of this chapter, at the time a member becomes entitled to receive a distribution, such...
• 507 - Interim Distributions.
  Except as provided in this chapter, to the extent and at the times or upon the happening of events specified in the operating agreement, a...
• 508 - Limitations on Distributions.
  (a) A limited liability company shall not make a distribution to a member to the extent that, at the time of the distribution, after giving...
• 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...

Last modified: February 3, 2019