{"data":{"id":"us-dc/d.c.-code-29-807.05","jurisdiction":"us-dc","citation":"D.C. Code § 29-807.05","heading":"Distribution of assets in winding up limited liability company’s activities and affairs.","body":"(a)\nIn winding up its activities and affairs, a limited liability company shall apply its assets to discharge its obligations to creditors, including members that are creditors.\n\n(b)\nAfter a limited liability company complies with subsection (a) of this section, any surplus shall be distributed in the following order, subject to any charging order in effect under § 29-805.03:\n(1)\nTo each person owning a transferable interest that reflects contributions made by a member and not previously returned, an amount equal to the value of the unreturned contributions; and\n(2)\nIn equal shares among members and dissociated members, except to the extent necessary to comply with any transfer effective under § 29-805.02.\n\n(c)\nIf a limited liability company does not have sufficient surplus to comply with subsection (b)(1) of this section, any surplus must be distributed among the owners of transferable interests in proportion to the value of their respective unreturned contributions.\n\n(d)\nAll distributions made under subsections (b) and (c) of this section must be paid in money.","path":["Title 29. Business Organizations. [Enacted title]","Chapter 8. Limited Liability Companies.","Subchapter VII. Dissolution and Winding up."],"source_url":"https://code.dccouncil.gov/us/dc/council/code/sections/29-807.05","current_through":"2026-08-20 (D.C. Law 26-175)","vintage":"","retrieved_at":"2026-08-29T05:44:07Z","sha256":"857fd30e87648f587f7e169c9cd72193dc9b7c35c00e92807a08809a529f2442","source_id":"us-dc","stale":false,"prev":"us-dc/d.c.-code-29-807.04","next":"us-dc/d.c.-code-29-807.06"},"notice":"GroundRules: Original legal text. Not legal advice."}