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§ 2031. Wrongful distribution--Liability of member--Action for recovery

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. § 2031
§ 2031. Wrongful distribution--Liability of member--Action for recovery
If a member has received a distribution in violation of the operating agreement or Section 2030 of this title, the member shall be liable to the limited liability company for the amount of the distribution wrongfully made. An action for the recovery of any wrongful distribution to a member must be brought within three (3) years from the date of the distribution.

Credits

Laws 1992, c. 148, § 32, eff. Sept. 1, 1992; Laws 1993, c. 366, § 16, eff. Sept. 1, 1993.
18 Okl. St. Ann. § 2031, OK ST T. 18 § 2031
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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