West Virginia Statutes
§ 31B-4-405 — Sharing of and right to distributions
West Virginia·Ch. 31B UNIFORM LIMITED LIABILITY COMPANY ACT·Art. 4 RELATIONS OF MEMBERS TO EACH OTHER AND TO LIMITED LIABILITY COMPANY
(a)Any distributions made by a limited liability company before its dissolution and winding up must be in equal shares.
(b)A member has no right to receive, and may not be required to accept, a distribution in kind.
(c)If a member becomes entitled to receive a distribution, the member has the status of, and is entitled to all remedies available to, a creditor of the limited liability company with respect to the distribution.
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Legislative History
1996 Reg. Sess., SB338
Nearby Sections
15
§ 31B-1-101
Definitions§ 31B-1-102
Knowledge and notice§ 31B-1-104
Supplemental principles of law§ 31B-1-105
Name§ 31B-1-106
Reserved name§ 31B-1-107
Registered name§ 31B-1-110
Resignation of agent for service of process§ 31B-1-111
Service of process§ 31B-1-112
Nature of business and powers§ 31B-1-114
Penalty for signing false document§ 31B-10-1001
Law governing foreign limited liability companies