Mass. Gen. Laws ch. 156C, § 33: Form of distribution on demand; acceptance of distribution of assets
Where this section sits in the code
- Part I
- Title XXII
- Chapter 156C
Section 33. Except as provided in a written operating agreement, a member, regardless of the nature of his contribution, has no right to demand and receive any distribution from a limited liability company in any form other than cash. Except as provided in a written operating agreement, a member may not be compelled to accept a distribution of any asset in kind from a limited liability company to the extent that the percentage of the asset distributed to him exceeds a percentage of the asset which is equal to the percentage in which he shares in distributions from the limited liability company.
Collected 2026-09-17T05:23:39Z. Source file · JSON