§ 57C-4-05. Distribution in kind. - North Carolina Statutes

§57C‑4‑05.  Distribution in kind.

Except as provided in anoperating agreement:

(1)        A member, regardlessof the nature of the member's contribution, has no right to demand or receiveany distribution from a limited liability company in any form other than cash;and

(2)        No member may becompelled to accept from a limited liability company a distribution of anyasset in kind unless all persons with interests in the limited liabilitycompany receive at the same time as a distribution an interest in the propertydistributed that is proportionate to their interests in the limited liabilitycompany. (1993, c. 354, s. 1.)