Indiana Statutes
§ 23-18-5-8 — Distributions in kind
(a)Except as provided in the operating
agreement, a member, regardless of the nature of the member's
contribution, does not have a right to demand and receive a distribution
from a limited liability company in a form other than cash.
(b)Except as provided in the operating agreement, a member may
not be compelled to accept a distribution in kind from a limited liability
company to the extent that the member's percentage interest in the
assets being distributed in kind exceeds the percentage of distributions
that the member is entitled to receive under section 4 of this chapter.
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Legislative History
As added by P.L.8-1993, SEC.301.
Nearby Sections
15
§ 23-0.5-1-1
Short title§ 23-0.5-1-2
Application§ 23-0.5-1-3
Application; exceptions§ 23-0.5-1-4
Delivery of record§ 23-0.5-1-5
Rules and procedures§ 23-0.5-1-6
Terms dependent on facts ascertainable outside the plan or filed
document; articles of amendment§ 23-0.5-1.5-1
Application of definitions§ 23-0.5-1.5-10
"Filed record"§ 23-0.5-1.5-11
"Filing entity"§ 23-0.5-1.5-12
"Foreign"§ 23-0.5-1.5-13
"General partnership"§ 23-0.5-1.5-14
"Governance interest"§ 23-0.5-1.5-15
"Governing person"§ 23-0.5-1.5-16
"Interest"§ 23-0.5-1.5-17
"Interest holder"