2010 Georgia Code 14-11-406 Case Law
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One Click Case Law for § 14-11-406
O.C.G.A. § 14-11-405 <-- --> O.C.G.A. §14-11-407



2010 Georgia Code

TITLE 14 - CORPORATIONS, PARTNERSHIPS, AND ASSOCIATIONS

CHAPTER 11 - LIMITED LIABILITY COMPANIES
ARTICLE 4 - FINANCE
§ 14-11-406 - Distributions in kind

O.C.G.A. 14-11-406 (2010)
14-11-406. Distributions in kind


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.

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Graham W. Syfert, Esq., P.A.
Phone: 904-383-7448
Fax: 904-638-4726

graham@syfert.com