Georgia § 14-11-406 Distributions in kind

Georgia Statutes

§ 14-11-406 — Distributions in kind

Georgia § 14-11-406

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This text of Georgia § 14-11-406 (Distributions in kind) is published on Counsel Stack Legal Research, covering Georgia primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

O.C.G.A. § 14-11-406 (2026).

Text

Except as provided in the articles of organization or a written operating agreement:

(1)A member, regardless of the nature of the member's contribution, 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 a percentage that is equal to the percentage in which the member shares in distributions from the limited liability company.

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Except as provided in the articles of organization or a written operating agreement: (1) A member, regardless of the nature of the member's contribution, 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 a percentage that is equal to the percentage in which the member shares in distributions from the limited liability company.