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2019 Georgia Code
Title 14 - Corporations, Partnerships, and Associations
Chapter 11 - Limited Liability Companies
Article 4 - Finance
§ 14-11-406. Distributions in kind
Universal Citation: GA Code § 14-11-406 (2019)
- 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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