2006 Utah Code - 48-2c-1006 — Duty to return wrongful distributions.

     48-2c-1006.   Duty to return wrongful distributions.
     If a member receives a distribution by mistake or in violation of the articles of organization, the operating agreement, or Section 48-2c-1005, that member is obligated to return the wrongful distribution to the company and shall remain liable to the company for a period of five years thereafter for the amount of the distribution wrongfully made provided a proceeding to recover the distribution from the member is commenced prior to the expiration of the five-year period.

Enacted by Chapter 260, 2001 General Session