Va. Code § 13.1-1034

Current with changes from the 2024 legislative session through ch. 845
Section 13.1-1034 - Distribution in kind

Except as provided in writing in the articles of organization or an operating agreement, a member, regardless of the nature of his or its contribution, has no right to demand and receive any distribution from a limited liability company in any form other than cash. Except as provided in writing in the articles of organization or an operating agreement, a member may not be compelled to accept a distribution of any asset in kind from a limited liability company to the extent that the percentage of the asset distributed to him or it exceeds a percentage of that asset which his or its membership interest constitutes of all membership interests in the limited liability company.

Va. Code § 13.1-1034

1991, c. 168.
Amended by Acts 1991, § c. 168.