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Current as of January 01, 2024 | Updated by Findlaw Staff
(a) Any distributions made by a limited liability company before its dissolution and winding up must be in equal shares.
(b) A member has no right to receive, and may not be required to accept, a distribution in kind.
(c) If a member becomes entitled to receive a distribution, the member has the status of, and is entitled to all remedies available to, a creditor of the limited liability company with respect to the distribution.
Cite this article: FindLaw.com - West Virginia Code Chapter 31B. Uniform Limited Liability Company Act § 31B-4-405. Sharing of and right to distributions - last updated January 01, 2024 | https://codes.findlaw.com/wv/chapter-31b-uniform-limited-liability-company-act/wv-code-sect-31b-4-405/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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