(a) Unless otherwise provided in an operating agreement of the company, a member, regardless of the nature of the member's contribution, may not demand and receive a distribution from a limited liability company in a form other than cash.
(b) Unless otherwise provided in an operating agreement of the company, a limited liability company may not compel a member of the company to accept from the company a distribution of a company asset in a form other than cash to the extent that the percentage of the asset distributed to the member exceeds the percentage that the member would have shared in a cash distribution equal to the value of the asset at the time of distribution.
Structure Alaska Statutes
Title 10. Corporations and Associations
Chapter 50. Alaska Revised Limited Liability Company Act
Sec. 10.50.290. Repayment of contribution and sharing of profits and other assets.
Sec. 10.50.295. Interim distributions under operating agreement.
Sec. 10.50.300. Interim distributions without operating agreement.
Sec. 10.50.305. Restrictions on distributions.
Sec. 10.50.315. Additional restrictions in articles or agreement.
Sec. 10.50.320. Liability of members receiving prohibited distributions; suit against members.
Sec. 10.50.330. Time for interim distributions.
Sec. 10.50.340. Distribution in kind.
Sec. 10.50.345. Right to distribution.
Sec. 10.50.348. Inapplicability to winding up and dissolution.