{"data":{"id":"us-ny/n.y.-limited-liability-company-law-509","jurisdiction":"us-ny","citation":"N.Y. Limited Liability Company Law § 509","heading":"Distribution upon withdrawal","body":"§ 509. Distribution upon withdrawal. Except as provided in this\nchapter, upon withdrawal as a member of the limited liability company,\nany withdrawing member is entitled to receive any distribution to which\nhe or she is entitled under the operating agreement and, if not\notherwise provided in the operating agreement, he or she is entitled to\nreceive, within a reasonable time after withdrawal, the fair value of\nhis or her membership interest in the limited liability company as of\nthe date of withdrawal based upon his or her right to share in\ndistributions from the limited liability company.","path":["Limited Liability Company Law","Article 5. Contributions and Distributions"],"source_url":"https://legislation.nysenate.gov/api/3/laws/LLC/509","current_through":"2026-09-11","vintage":"","retrieved_at":"2026-09-14T19:32:45Z","sha256":"4f2d5f50fc353f5ea2c39bb08595ddda867b6048037abb5922f39fdfc734a453","source_id":"us-ny","stale":false,"prev":"us-ny/n.y.-limited-liability-company-law-508","next":"us-ny/n.y.-limited-liability-company-law-601"},"notice":"GroundRules: Original legal text. Not legal advice."}