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2018 New Jersey Revised Statutes
Title 42 - PARTNERSHIPS AND PARTNERSHIP ASSOCIATIONS
Chapter 2B
Section 42:2B-41 - Creditor status for member entitled to distribution
Universal Citation: NJ Rev Stat § 42:2B-41 (2018)
Section: 42:2B-41: Creditor status for member entitled to distribution
41. Subject to sections 42 and 51 of this act, and unless otherwise provided in an operating agreement, at the time a member becomes entitled to receive a distribution, he has the status of, and is entitled to all remedies available to, a creditor of a limited liability company with respect to the distribution. An operating agreement may provide for the establishment of a record date with respect to allocations and distributions by a limited liability company.
L.1993,c.210,s.41.
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