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New York Limited Liability Company Law Section 506 - Right To Distribution.

Legal Research Home > New York Lawyer > Limited Liability Company > New York Limited Liability Company Law Section 506 - Right To Distribution.

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    § 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 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.

Last modified: August 10, 2006