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Statutes > New York Laws > LLC - Limited Liability Company Law > Article 5 - (501 - 509) CONTRIBUTIONS AND DISTRIBUTIONS > 506 - Right to distribution.

STATE STATUTES & CODES

NEW YORK STATUTES AND CODES

506 - Right to distribution.

§ 506. Right to distribution. Subject to sections five hundred eight and seven hundred four of this chapter, at the time a member becomes entitled to receive a distribution, such 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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