Nevada § 86.346 Distributions: Form; status of member or transferee

Nevada Statutes

§ 86.346 — Distributions: Form; status of member or transferee

Nevada·Title 7 BUSINESS ASSOCIATIONS; SECURITIES; COMMODITIES·Ch. 86 Limited-Liability· OPERATION

1.Unless otherwise provided in the operating agreement, a member, regardless of the nature of the member’s contributions, or a transferee, regardless of the nature of the contributions of the transferee’s predecessor, has no right to demand or receive any distribution from a limited-liability company in any form other than cash.

2.Except as otherwise provided in NRS 86.391 and 86.521 , and unless otherwise provided in the operating agreement, at the time a member or transferee becomes entitled to receive a distribution the member or transferee has the status of and is entitled to all remedies available to a creditor of the company with respect to the distribution.

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1. Unless otherwise provided in the operating agreement, a member, regardless of the nature of the member’s contributions, or a transferee, regardless of the nature of the contributions of the transferee’s predecessor, has no right to demand or receive any distribution from a limited-liability company in any form other than cash.
2. Except as otherwise provided in NRS 86.391 and 86.521 , and unless otherwise provided in the operating agreement, at the time a member or transferee becomes entitled to receive a distribution the member or transferee has the status of and is entitled to all remedies available to a creditor of the company with respect to the distribution.

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