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  • SECTION 505
    Distributions in kind
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  • ARTICLE 5
    Contributions and Distributions
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  • SECTION 507
    Interim distributions
    • This entry was published on 2014-09-22
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    SECTION 506

    Right to distribution

    Limited Liability Company Law (LLC) CHAPTER 34, ARTICLE 5

    § 506. Right to distribution. Subject to sections five hundred eight
    and seven hundred four of this chapter, at the time a member becomes
    entitled to receive a distribution, such member has the status of, and
    is entitled to all remedies available to, a creditor of the limited
    liability company with respect to the distribution.