Current through 2023-2024 Legislative Session Chapter 709
Section 14-11-406 - Distributions in kindExcept as provided in the articles of organization or a written operating agreement:
(1) A member, regardless of the nature of the member's contribution, has no right to demand and receive any distribution from a limited liability company in any form other than cash; and(2) No member may be compelled to accept from a limited liability company a distribution of any asset in kind to the extent that the percentage of the asset distributed to the member exceeds a percentage that is equal to the percentage in which the member shares in distributions from the limited liability company.