2002 Minnesota Statutes

     322B.52 Distribution in kind. 

    Except as provided in the articles of organization or a 
 member control agreement, a member, regardless of the nature of 
 the member's 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 the articles of 
 organization or a member control 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 the member exceeds a percentage of that 
 asset that is equal to the percentage in which the member shares 
 in distributions from the limited liability company.  

    HIST: 1992 c 517 art 2 s 58; 1999 c 85 art 2 s 54