N.Y. Limited Liability Company Law § 509: Distribution upon withdrawal

§ 509. Distribution upon withdrawal. Except as provided in this

chapter, upon withdrawal as a member of the limited liability company,

any withdrawing member is entitled to receive any distribution to which

he or she is entitled under the operating agreement and, if not

otherwise provided in the operating agreement, he or she is entitled to

receive, within a reasonable time after withdrawal, the fair value of

his or her membership interest in the limited liability company as of

the date of withdrawal based upon his or her right to share in

distributions from the limited liability company.