Sec. 8. (a) Except as provided in the operating agreement, a member, regardless of the nature of the member's contribution, does not have a right to demand and receive a distribution from a limited liability company in a form other than cash.
(b) Except as provided in the operating agreement, a member may not be compelled to accept a distribution in kind from a limited liability company to the extent that the member's percentage interest in the assets being distributed in kind exceeds the percentage of distributions that the member is entitled to receive under section 4 of this chapter.
As added by P.L.8-1993, SEC.301.
Structure Indiana Code
Title 23. Business and Other Associations
Article 18. Limited Liability Companies
23-18-5-1. Promises to Contribute Property or Services; Enforceability
23-18-5-3. Allocation of Profits and Losses
23-18-5-4. Shared Distributions of Cash or Other Assets
23-18-5-5. Dissociation; Companies Existing on or Before June 30, 1999
23-18-5-5.1. Dissociation; Companies Formed After June 30, 1999
23-18-5-7. Unlawful Distributions; Liability
23-18-5-8. Distributions in Kind
23-18-5-9. Status of Member Entitled to Receive Distribution