2006 Ohio Revised Code - 1705.13. Distributions in kind.
§ 1705.13. Distributions in kind.
Except as provided in writing in the operating agreement and regardless of the nature of his contribution, a member has no right to demand and receive any distribution from a limited liability company in any form other than cash. Except as provided in writing in the operating agreement, a member may not be compelled to accept a distribution of any asset in kind from a limited liability company if the percentage of the asset distributed to him is greater or less than the percentage in which he shares in distributions from the company.
HISTORY: 145 v S 74. Eff 7-1-94.
Not analogous to former RC § 1705.13 (GC § 8673-10; 102 v 500; Bureau of Code Revision, 10-1-53), repealed 129 v 13(182), § 2, eff 7-1-62.
Disclaimer: These codes may not be the most recent version. Ohio 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.
