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MAINE STATUTES AND CODES
31 §672. Distributions on withdrawal (WHOLE SECTION TEXT EFFECTIVE UNTIL 7/1/11)
Title 31: PARTNERSHIPS AND ASSOCIATIONS
Chapter 13: LIMITED LIABILITY COMPANIES
Subchapter 6: DISTRIBUTIONS AND WITHDRAWAL
§672. Distributions on withdrawal
(CONTAINS TEXT WITH VARYING EFFECTIVE DATES)
(WHOLE SECTION TEXT EFFECTIVE UNTIL 7/1/11)
Upon a withdrawal under section 692 that does not cause dissolution, a withdrawing member is entitled to receive any distribution to which the member is entitled under the operating agreement. If not otherwise provided in the operating agreement, the member is not entitled to receive any distribution. [1993, c. 718, Pt. A, §1 (NEW).]
SECTION HISTORY
1993, c. 718, §A1 (NEW). 2009, c. 629, Pt. A, §1 (RP). 2009, c. 629, Pt. A, §3 (AFF).