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2006 Minnesota Statutes
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Chapter 322B
Section 322B.52
Recent History
- 2014 322B.52 Repealed 2014 c 157 art 1 s 91
- 1999 322B.52 Amended 1999 c 85 art 2 s 54
This is an historical version of this statute chapter. Also view the most recent published version.
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.
History: 1992 c 517 art 2 s 58; 1999 c 85 art 2 s 54
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.
History: 1992 c 517 art 2 s 58; 1999 c 85 art 2 s 54
Official Publication of the State of Minnesota
Revisor of Statutes