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§ 2028. Distribution--Cash--Asset in kind

Oklahoma Statutes AnnotatedTitle 18. Corporations

Oklahoma Statutes Annotated
Title 18. Corporations (Refs & Annos)
Chapter 32. Oklahoma Limited Liability Company Act (Refs & Annos)
18 Okl.St.Ann. § 2028
§ 2028. Distribution--Cash--Asset in kind
Except as otherwise provided in the operating agreement:
1. A member, regardless of the nature of the member's contribution, has no right to demand and receive any distribution from a limited liability company in any form other than cash; and
2. No member may be compelled to accept from a limited liability company a distribution of any asset in kind to the extent that the percentage of the asset distributed to the member exceeds the percentage which the member's interest in the limited liability company is of all of the interests in the limited liability company.


Laws 1992, c. 148, § 29, eff. Sept. 1, 1992.
18 Okl. St. Ann. § 2028, OK ST T. 18 § 2028
Current with legislation of the Second Regular Session of the 59th Legislature (2024). Some sections may be more current, see credits for details.
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