Rhode Island § 7-16-29 § 7-16-29. Distributions upon withdrawal.

Rhode Island Statutes

§ 7-16-29 — § 7-16-29. Distributions upon withdrawal.

Rhode Island § 7-16-29

Title 7Corporations, Associations and Partnerships

Ch. 7-16The Rhode Island Limited Liability Company Act

This text of Rhode Island § 7-16-29 (§ 7-16-29. Distributions upon withdrawal.) is published on Counsel Stack Legal Research, covering Rhode Island primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

R.I. Gen. Laws § 7-16-29 (2026).

Text

§ 7-16-29. Distributions upon withdrawal.
Upon the withdrawal of a member, except as otherwise provided in writing in an operating
            agreement, the withdrawn member and his or her legal representatives, successors and
            assigns do not have the right to receive any distribution by reason of the withdrawal
            but have only the rights of an assignee to receive distributions as to the withdrawn
            member's interest during any continuation of the business of the limited liability
            company and upon completion of winding up less any damages recoverable against the
            withdrawn member if the event of withdrawal violated the limited liability company's
            operati

Free access — add to your briefcase to read the full text and ask questions with AI

§ 7-16-29. Distributions upon withdrawal.

Upon the withdrawal of a member, except as otherwise provided in writing in an operating agreement, the withdrawn member and his or her legal representatives, successors and assigns do not have the right to receive any distribution by reason of the withdrawal but have only the rights of an assignee to receive distributions as to the withdrawn member's interest during any continuation of the business of the limited liability company and upon completion of winding up less any damages recoverable against the withdrawn member if the event of withdrawal violated the limited liability company's operating agreement.