GroundRules
Miss. Code Ann. § 79-29-603: Distribution upon withdrawal of member.
Where this section sits in the code
- Title 79. Corporations, Associations, and Partnerships
- Chapter 29. Revised Mississippi Limited Liability Company Act
- Article 6. Distributions.
Except as provided in this article, upon withdrawal any withdrawing member is entitled to receive any distribution to which the member is entitled under an operating agreement and, if not otherwise provided in an operating agreement, the member is entitled to receive, within a reasonable time after withdrawal the fair value of the member’s financial interest as of the date of withdrawal based upon the member’s right to share in distributions from the limited liability company.
For purposes of this section the fair value of the member’s financial interest shall be determined as of the date of withdrawal:
(a) Using customary and current valuation concepts and techniques generally employed for similar businesses in the context of the transaction requiring appraisal; and
(b) Without discounting for lack of marketability or minority status.
The distribution must be accompanied by current financial statements of the limited liability company.
Collected 2026-10-27T05:54:23Z. Source file · JSON
Compilation CC BY 4.0, Open US Law (Vaquill AI). GroundRules uses only the releases published under CC BY 4.0: from v2026.09 the compilation is licensed CC BY-NC 4.0, and GroundRules does not use those releases. Each affected row names its release in its vintage label. GroundRules parsed and filtered the compilation to retain enacted text. Source · License
Mississippi electronic product files were republished by Public.Resource.Org under a public-domain dedication. GroundRules uses enacted text from Release 78 only as a labeled supplement to the newer Open US Law rows. Source