2013 New Hampshire Revised Statutes
Title XXVIII - PARTNERSHIPS
Chapter 304-C - LIMITED LIABILITY COMPANIES
Section 304-C:105 - Distributions Upon Member Dissociation.


NH Rev Stat § 304-C:105 (2013) What's This?

    304-C:105 Distributions Upon Member Dissociation. –
    I. Unless the operating agreement provides otherwise, any member, upon dissociation under RSA 304-C:100, RSA 304-C:101, or RSA 304-C:102, is entitled to receive any accrued distribution to which the member was entitled at the time of dissociation.
    II. Unless the operating agreement provides otherwise, a dissociating member is not entitled to receive any payment for the value of the member's membership rights, including the member's limited liability company interest, as of the date of dissociation.
    III. If a dissociated member receives no payment for the value of the member's membership rights, including the member's limited liability company interest, the dissociated member shall continue to have the rights of a transferee of a limited liability company interest under RSA 304-C:123, subject to the limited liability company's right of offset under RSA 304-C:103, III.

Source. 2012, 232:2, eff. Jan. 1, 2013.


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