§ 7-16-30 - Distribution in kind. - Rhode-island Statutes

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Statutes > Rhode-island > Title-7 > Chapter-7-16 > 7-16-30

SECTION 7-16-30

§ 7-16-30 Distribution in kind. – Except as provided in the operating agreement:

(1) A member has no right to demand and receive anydistribution from a limited liability company in any form other than cash; and

(2) No member may be compelled to accept from a limitedliability company a distribution of any asset in kind to the extent that thepercentage of the asset distributed to the member exceeds the percentage ofthat asset which is equal to the percentage in which the member sharesdistributions from the limited liability company.

State Codes and Statutes

Statutes > Rhode-island > Title-7 > Chapter-7-16 > 7-16-30

SECTION 7-16-30

§ 7-16-30 Distribution in kind. – Except as provided in the operating agreement:

(1) A member has no right to demand and receive anydistribution from a limited liability company in any form other than cash; and

(2) No member may be compelled to accept from a limitedliability company a distribution of any asset in kind to the extent that thepercentage of the asset distributed to the member exceeds the percentage ofthat asset which is equal to the percentage in which the member sharesdistributions from the limited liability company.

State Codes and Statutes

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State Codes and Statutes

Statutes > Rhode-island > Title-7 > Chapter-7-16 > 7-16-30

SECTION 7-16-30

§ 7-16-30 Distribution in kind. – Except as provided in the operating agreement:

(1) A member has no right to demand and receive anydistribution from a limited liability company in any form other than cash; and

(2) No member may be compelled to accept from a limitedliability company a distribution of any asset in kind to the extent that thepercentage of the asset distributed to the member exceeds the percentage ofthat asset which is equal to the percentage in which the member sharesdistributions from the limited liability company.