Georgia Statutes
§ 14-11-406 — Distributions in kind
Georgia·Title 14
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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Nearby Sections
15
§ 14-10-1
Short title§ 14-10-10
Ownership§ 14-10-17
Actions by or against associations§ 14-10-2
Definitions§ 14-10-3
Persons entitled to form association; purpose; limitation to one type of professional service§ 14-10-4
Formation