Distributions in Kind

  1. Law
  2. Georgia Code
  3. Corporations, Partnerships, and Associations
  4. Limited Liability Companies
  5. Finance
  6. Distributions in Kind

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Except 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.

(Code 1981, §14-11-406, enacted by Ga. L. 1993, p. 123, § 1.)


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