35-8-603. Distribution in kind. Except as provided in the articles of organization or the operating agreement:
(1) a member, regardless of the nature of the member's contribution, may not demand or receive any distribution from a limited liability company in any form other than cash; and
(2) a member may not 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 members exceeds a percentage of that asset that is equal to the percentage in which the member shares in distributions from the limited liability company.
History: En. Sec. 34, Ch. 120, L. 1993.