A participant may not receive from a limited liability trust company any part of the participant's contribution to capital until:
A participant may demand the return of the participant's contribution to capital on the dissolution of the limited liability trust company and the failure by the full liability participants to exercise the right for the business of the limited liability trust company to be carried on by the remaining participants as provided by Section 81-27-6.307.
Unless allowed by the articles of association or by the unanimous consent of all participants of the limited liability trust company, a participant may demand the return of the participant's contribution to capital only in cash.
Structure Mississippi Code
Title 81 - Banks and Financial Institutions
Chapter 27 - Multistate, State and Limited Liability Trust Institutions
Article 6 - Additional Definitions; Ownership; Governance; Mergers
Special Provisions for Limited Liability Trust Companies
§ 81-27-6.301. Filing of notice of full liability
§ 81-27-6.302. Liability of participants and managers
§ 81-27-6.303. Contracting debts and obligations
§ 81-27-6.304. Management of limited liability trust company
§ 81-27-6.305. Withdrawal or reduction of participant's contribution to capital
§ 81-27-6.306. Interest in limited liability trust company; transferability of interest
§ 81-27-6.308. Allocation of profits and losses
§ 81-27-6.310. Other provisions related to a limited liability trust company