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This entry was published on 2014-09-22
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Distributions in kind
Limited Liability Company Law (LLC) CHAPTER 34, ARTICLE 5
§ 505. Distributions in kind. (a) Except as provided in the operating
agreement, a member, regardless of the nature of his or her
contribution, has no right to demand and receive any distribution from
the limited liability company in any form other than cash.

(b) Except as provided in the operating agreement, a member may not be
compelled to accept a distribution of any asset in kind from a limited
liability company to the extent that the percentage of the asset
distributed to him or her exceeds a percentage of that asset that is
equal to the percentage in which he or she shares in distributions from
the limited liability company.