29-708. Distribution on winding up


On the winding up of a limited liability company, its assets shall be applied and
distributed in the following order:


1. To creditors, including members who are creditors, to the extent permitted by
law, in satisfaction of liabilities of the limited liability company other than
liabilities for distributions to members and former members under section 29-703 or
29-707.


2. Except as provided in an operating agreement, to members and former members in
satisfaction of liabilities for distributions under section 29-703 or 29-707.


3. To the members in the manner provided in section 29-703, subsection B.