347.105. Distribution, form of. - Missouri Statutes

Distribution, form of.

347.105. Except as otherwise provided in the operatingagreement, a member, regardless of the nature of hiscontribution, has no right to demand and receive any distributionfrom a limited liability company in any form other than cash.Except as provided in the operating agreement, a member may notbe compelled to accept a distribution of any property other thancash from the limited liability company unless the membersreceive undivided ownership interests therein that are in thesame proportions as they would have shared in a cash distributionequal to the value of such property at the time of distribution.

(L. 1993 S.B. 66 & 20 § 359.762)

Effective 12-1-93