Montana § 35-8-603 Distribution In Kind

Montana Statutes

§ 35-8-603 — Distribution In Kind

Montana·Title 35 CORPORATIONS, PARTNERSHIPS, AND ASSOCIATIONS·Ch. 8 MONTANA LIMITED LIABILITY COMPANY ACT·Part 6 Distributions

35-8-603 . Distribution in kind. Except as provided in the articles of organization or the operating agreement:

(1)a member, regardless of the nature of the member's contribution, may not demand or receive any distribution from a limited liability company in any form other than cash; and

(2)a member may not 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 members exceeds a percentage of that asset that is equal to the percentage in which the member shares in distributions from the limited liability company.

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35-8-603 . Distribution in kind. Except as provided in the articles of organization or the operating agreement:
(1) a member, regardless of the nature of the member's contribution, may not demand or receive any distribution from a limited liability company in any form other than cash; and
(2) a member may not 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 members exceeds a percentage of that asset that is equal to the percentage in which the member shares in distributions from the limited liability company.

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