N.Y. Limited Liability Company Law § 505: Distributions in kind

§ 505. Distributions in kind. (a) Except as provided in the operating

agreement, a member, regardless of the nature of his or her

contribution, has no right to demand and receive any distribution from

the limited liability company in any form other than cash.

(b) Except as provided in the 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 or her exceeds a percentage of that asset that is

equal to the percentage in which he or she shares in distributions from

the limited liability company.