{"data":{"id":"us-az/a.r.s.-29-3404","jurisdiction":"us-az","citation":"A.R.S. § 29-3404","heading":"Sharing of and right to distributions before dissolution","body":"A. Any distribution made by a limited liability company before its dissolution and winding up must be in equal shares among members and persons dissociated as members, except to the extent necessary to comply with a transfer effective under section 29-3502 or charging order in effect under section 29-3503.\n\nB. A person has a right to a distribution before the dissolution and winding up of a limited liability company only if the company decides to make an interim distribution. A person's dissociation does not entitle the person to a distribution.\n\nC. A person does not have a right to demand or receive a distribution from a limited liability company in any form other than money. Except as otherwise provided in section 29-3707, subsection D, a company may distribute an asset in kind only if each part of the asset is fungible with each other part and each person receives a percentage of the asset equal in value to the person's share of distributions.\n\nD. If a member or transferee becomes entitled to receive a distribution, the member or transferee has the status of, and is entitled to all remedies available to, a creditor of the limited liability company with respect to the distribution. However, the company's obligation to make a distribution is subject to offset for any amount owed to the company by the member or a person dissociated as a member on whose account the distribution is made.","path":["Title 29 Partnership"],"source_url":"https://www.azleg.gov/ars/29/03404.htm","current_through":"2026-09-04","vintage":"2026-08-09","retrieved_at":"2026-09-04T00:49:56Z","sha256":"44acfd024d5127df6785e000d0fef7b30abaa2506f745d0fe913cb5c14972e6b","source_id":"us-az","stale":true,"prev":"us-az/a.r.s.-29-3403","next":"us-az/a.r.s.-29-3405"},"notice":"GroundRules: Original legal text. Not legal advice."}