West Virginia § 31B-4-405 Sharing of and right to distributions

West Virginia Statutes

§ 31B-4-405 — Sharing of and right to distributions

West Virginia § 31B-4-405

Ch. 31BUNIFORM LIMITED LIABILITY COMPANY ACT

Art. 4RELATIONS OF MEMBERS TO EACH OTHER AND TO LIMITED LIABILITY COMPANY

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Bluebook

W. Va. Code § 31B-4-405 (2026).

Text

(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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(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.