Section 1705.13 | [Repealed Effective 2/11/2022 - See R.C. 1706.83] Distribution in kind.
Except as provided in writing in the operating agreement and regardless of the nature of his contribution, a member has no right to demand and receive any distribution from a limited liability company in any form other than cash. Except as provided in writing in the operating agreement, a member may not be compelled to accept a distribution of any asset in kind from a limited liability company if the percentage of the asset distributed to him is greater or less than the percentage in which he shares in distributions from the company.
Last updated August 30, 2021 at 11:37 AM
Available Versions of this Section
- July 1, 1994 – Amended by Senate Bill 74, 120th General Assembly [ View July 1, 1994 Version ]