TITLE 7
Corporations, Associations, and Partnerships

CHAPTER 7-16
The Rhode Island Limited Liability Company Act

SECTION 7-16-30


§ 7-16-30 Distribution in kind.

Except as provided in the operating agreement:

(1) A member has no right to demand and receive any distribution from a limited liability company in any form other than cash; and

(2) No member may be compelled to accept from a limited liability company a distribution of any asset in kind to the extent that the percentage of the asset distributed to the member exceeds the percentage of that asset which is equal to the percentage in which the member shares distributions from the limited liability company.

History of Section.
(P.L. 1992, ch. 280, § 1.)