{"data":{"id":"us-ky/krs-275.230","jurisdiction":"us-ky","citation":"KRS 275.230","heading":"Liability for unlawful distribution -- Effect of unlawful distribution --","body":"Limitation of action.\n(1) A member or manager who votes for or assents to a distribution in violation of an\noperating agreement or KRS 275.225 shall be personally liable to th e limited\nliability company for the amount of the distribution that exceeds the amount that\ncould have been distributed without violating KRS 275.225 or an operating\nagreement if it is established that the member or manager did not comply with KRS\n275.170.\n(2) Each member or manager held liable under subsection (1) of this section for an\nunlawful distribution shall be entitled to contribution:\n(a) From each other member or manager who could be held liable under\nsubsection (1) of this section for the unlawful distribution; and\n(b) From each member, assignee, or other recipient for the amount received in\nviolation of KRS 275.225 or an operating agreement.\n(3) A proceeding under this section shall be barred unless it is commenced within two\n(2) years after the date on which the effect of the distribution is measured under\nKRS 275.225(3).","path":["KRS Chapter 275"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=40446","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:53:27Z","sha256":"f18cd96ea8d5c3195b97a794a4a22d8e7965b93239d8e1008fd98e36243f34ff","source_id":"us-ky","stale":false,"prev":"us-ky/krs-275.225","next":"us-ky/krs-275.235"},"notice":"GroundRules: Original legal text. Not legal advice."}