§ 18-2028. Distribution - Cash - Asset in kind.

Except as otherwise provided in the 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 the percentage which the member's interest in the limited liability company is of all of the interests in the limited liability company.

Added by Laws 1992, c. 148, § 29, eff. Sept. 1, 1992.