§ 7-16-29 - Distributions upon withdrawal. - Rhode Island Statutes

SECTION 7-16-29

   § 7-16-29  Distributions upon withdrawal.– Upon the withdrawal of a member, except as otherwise provided in writing in anoperating agreement, the withdrawn member and his or her legal representatives,successors and assigns do not have the right to receive any distribution byreason of the withdrawal but have only the rights of an assignee to receivedistributions as to the withdrawn member's interest during any continuation ofthe business of the limited liability company and upon completion of winding upless any damages recoverable against the withdrawn member if the event ofwithdrawal violated the limited liability company's operating agreement.