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Rhode Island · Through site files published 2025-08-13 · Newer source version available

R.I. Gen. Laws § 7-16-46: Distribution of assets.

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Where this section sits in the code
  1. Title 7 Corporations, Associations, and Partnerships
  2. Chapter 16 The Rhode Island Limited Liability Company Act

On the winding up of a limited liability company, the assets shall be distributed as follows:

(1) To creditors, including members who are creditors, to the extent permitted by law, in satisfaction of liabilities of the limited liability company other than liabilities for distributions to members under § 7-16-28 or § 7-16-29;

(2) Except as provided in the articles of organization or written operating agreement, to members or former members in satisfaction of liabilities for distributions under § 7-16-28 or § 7-16-29; and

(3) Except as provided in the articles of organization or a written operating agreement, to members and former members first to return their capital values and second in proportions in which the members share in distributions.

Collected 2026-09-05T19:54:51Z. Source file · JSON

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