17-76,109. Right to distribution.
17-76,109
17-76,109. Right to distribution.
Subject to K.S.A. 17-76,110 and 17-76,119, and
amendments thereto, and
unless otherwise
provided in an operating agreement, at the time 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 a limited
liability company with respect to the distribution. An operating agreement may
provide for the
establishment of a record date with respect to allocations and distributions by
a limited liability
company.
History: L. 1999, ch. 119, § 48; Jan. 1, 2000.