2009 North Carolina Code
Chapter 57C - North Carolina Limited Liability Company Act.
§ 57C-4-05. Distribution in kind.
§ 57C‑4‑05. Distribution in kind.
Except as provided in an operating agreement:
(1) A member, regardless of the nature of the member's contribution, has no right to demand or 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 unless all persons with interests in the limited liability company receive at the same time as a distribution an interest in the property distributed that is proportionate to their interests in the limited liability company. (1993, c. 354, s. 1.)
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