Mass. Gen. Laws ch. 156C § 34
Current through Chapter 89 of the 2024 Legislative Session
Except as provided in the operating agreement, and subject to section forty-six, at the time a member becomes entitled to receive a distribution, he has the status of, and is entitled to all remedies available to, a creditor of the limited liability company with respect to the distribution. An operating agreement may provide for the establishment of a record date with respect to allocations and distributions by a limited liability company.
Mass. Gen. Laws ch. 156C, § 34