ORS § 63.219

Current through 2024 Regular Session legislation effective April 4, 2024
Section 63.219 - Distribution in kind

Except as provided in the articles of organization or any operating agreement:

(1) No member, regardless of the nature of the member's contribution, has any right to demand and receive any distribution from a limited liability company in any form other than cash; and
(2) No member may 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 the member exceeds a percentage of that asset that is equal to the percentage in which the member shares in operating or liquidating distributions, as the case may be, from the limited liability company.

ORS 63.219

1993 c.173 §44