§ 8934. Distributions in kind.
(a) No right to distribution in kind.--A member, regardless of the nature of the contribution of the member, has no right to demand and receive any distribution from a limited liability company in any form other than cash.
(b) Limitation on distributions in kind.--A member may not be compelled to accept from a company a distribution of any asset in kind to the extent that the percentage of the asset distributed to the member exceeds a percentage of that asset that is equal to the percentage in which the member shares in distributions from the company.Section: Previous 8923 8924 8925 8926 8931 8932 8933 8934 8935 8941 8942 8943 8944 8945 8946 Next
Last modified: October 8, 2016