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2018 Rhode Island General Laws
Title 7 - Corporations, Associations and Partnerships
Chapter 7-16 The Rhode Island Limited-Liability Company Act
Section 7-16-30 Distribution in kind.
Universal Citation: RI Gen L § 7-16-30 (2018)
§ 7-16-30. Distribution in kind.
Except as provided in the operating agreement:
(1) A member 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 the percentage of that asset which is equal to the percentage in which the member shares distributions from the limited-liability company.
History of Section.
(P.L. 1992, ch. 280, § 1.)
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