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4-32-603. Distribution in kind.
Arkansas Code — all titles (historical 2020) · legal_authorities
4-32-603. Distribution in kind.
Unless otherwise provided in an operating agreement:
(1) A member, regardless of the nature of the member's contribution, has no right to demand and receive any distribution from the limited liability company in any form other than cash; and
(2) A member may not be compelled to accept from the 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 that the member would have shared in a cash distribution equal to the value of the property at the time of distribution.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 4-32-603
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.
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Record provenance
Stable record: arkansas_code:legal_authorities:4-32-603
Source file: gov.ar.code.title.04.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 7f2e00321c8c2687c86ce4524e75982f7a2fa18a4519cdb4b1b3c724ad6a0e95
Source location: content.xml paragraph 21122
Stored source content
4-32-603. Distribution in kind.
Unless otherwise provided in an operating agreement:
(1) A member, regardless of the nature of the member's contribution, has no right to demand and receive any distribution from the limited liability company in any form other than cash; and
(2) A member may not be compelled to accept from the 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 that the member would have shared in a cash distribution equal to the value of the property at the time of distribution.
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