2010 Hawaii Code
DIVISION 2. BUSINESS
TITLE 23A. OTHER BUSINESS ENTITIES
428. Uniform Limited Liability Company Act
§428-405 Sharing of and right to distributions.


HI Rev Stat § 428-405 (2010 through Reg Sess) What's This?

[§428-405] Sharing of and right to distributions. (a) Any distributions made by a limited liability company, prior to dissolution and winding up, must be in equal shares.

(b) A member has no right to receive, and may not be required to accept, a distribution in kind.

(c) If a member becomes entitled to receive a distribution, the member has the status of, and is entitled to all remedies available to, a creditor of the limited liability company with respect to the distribution. [L 1996, c 92, pt of §1]

Disclaimer: These codes may not be the most recent version. Hawaii may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.