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Form a Business

Form of distribution on demand; acceptance of distribution of assets

M.G.L. c. 156C, § 33
in effect
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c. 156C, § 33. Form of distribution on demand; acceptance of distribution of assets Section 33. Except as provided in a written operating agreement, a member, regardless of the nature of his 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 a written 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 exceeds a percentage of the asset which is equal to the percentage in which he shares in distributions from the limited liability company.
Source: Massachusetts General Court (malegislature.gov)URL: https://malegislature.gov/Laws/GeneralLaws/PartI/TitleXXII/Chapter156C/Section33Fetched: 10/20/2026

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