2011 Florida Statutes
TITLE XXXVI — BUSINESS ORGANIZATIONS
Chapter 608 — LIMITED LIABILITY COMPANIES
608.428 — Liability upon wrongful distribution.
608.428 Liability upon wrongful distribution.—
(1) If a member receives a distribution in violation of the articles of organization, the operating agreement, or this chapter, the member is liable to the limited liability company for a period of 3 years thereafter for the amount of the distribution wrongfully made.
(2) A member may not receive a distribution from a limited liability company to the extent that, after giving effect to the distribution, the limited liability company would be insolvent.
History.—s. 32, ch. 93-284; s. 54, ch. 97-102; s. 1, ch. 99-315; s. 21, ch. 2002-272.
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