North Carolina General Statutes § 57C-4-05 Distribution in kind
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Except as provided in an operating agreement:
(1) A member, regardless of the nature of the member's contribution, has no right to demand or receive any distribution from a limited liability company in any form other than cash; and
(2) No member may be compelled to accept from a limited liability company a distribution of any asset in kind unless all persons with interests in the limited liability company receive at the same time as a distribution an interest in the property distributed that is proportionate to their interests in the limited liability company. (1993, c. 354, s. 1.)
Sections: 57C-3-30 57C-3-31 57C-3-32 57C-4-01 57C-4-02 57C-4-03 57C-4-04 57C-4-05 57C-4-06 57C-4-07 57C-4-08 57C-5-01 57C-5-02 57C-5-03 57C-5-04
Last modified: February 21, 2012
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