§ 57C-4-04. Interim distributions. - North Carolina Statutes

§57C‑4‑04.  Interim distributions.

Except as provided in thisChapter, a member is entitled to receive distributions from a limited liabilitycompany before the withdrawal of the member from the limited liability companyand before the dissolution and winding up of the limited liability company asprovided in an operating agreement.  In the absence of any provision forinterim distributions in an operating agreement, such distributions may be madeat such times and in such amounts as determined by the managers, in proportionto the agreed value, as stated in the limited liability company recordsrequired to be kept pursuant to G.S. 57C‑3‑04(a)(5), of thecontributions made by each member as of the date of such distribution, or as ofsuch date within 90 days prior to the distribution that may be determined bythe managers. (1993, c. 354, s. 1.)