42:2B-40 - Member distributions limited to cash - New Jersey Statutes

42:2B-40.    Member distributions limited to cash 
    40.  Except as provided in an operating agreement, a member, regardless of the nature of his contribution, has no right to demand and receive any distribution from a limited liability company in any form other than cash. Except as provided in an operating agreement, a member may not be compelled to accept a distribution of any asset in kind from a limited liability company to the extent that the percentage of the asset distributed to him exceeds a percentage of that asset which is equal to the percentage in which he shares in distributions from the limited liability company. 

   L.1993,c.210,s.40.