§428-405 - Sharing of and right to distributions.
[§428-405] Sharing of and right to
distributions. (a) Any distributions made by a limited liability company,
prior to dissolution and winding up, must be in equal shares.
(b) A member has no right to receive, and may
not be required to accept, a distribution in kind.
(c) If a member becomes entitled to receive a
distribution, the 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. [L 1996, c 92, pt of §1]