At the time 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.
History. Code 1981, § 14-11-409 , enacted by Ga. L. 1993, p. 123, § 1.
Structure Georgia Code
Title 14 - Corporations, Partnerships, and Associations
Chapter 11 - Limited Liability Companies
§ 14-11-401. Contributions to Capital
§ 14-11-402. Liability for Contribution
§ 14-11-403. Allocation of Profits and Losses
§ 14-11-405. Distributions Upon Event of Dissociation
§ 14-11-406. Distributions in Kind
§ 14-11-407. Restrictions on Making Distributions