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- Alaska Statutes.
- Title 10. Corporations and Associations
- Chapter 50. Alaska Revised Limited Liability Company Act
- Section 340. Distribution in Kind.
previous: Section 335
. Distributions When a Person Ceases to Be a Member. [Repealed, Sec. 23 Ch 78 SLA 1997].
next: Section 345
. Right to Distribution.
AS 10.50.340. Distribution in Kind.
- (a) Unless otherwise provided in an operating agreement of the company, a member, regardless of the nature of the member's
contribution, may not demand and receive a distribution from a limited liability company in a form other than cash.
- (b) Unless otherwise provided in an operating agreement of the company, a limited liability company may not compel a
member of the company to accept from the company a distribution of a company asset in a form other than cash to the
extent that the percentage of the asset distributed to the member exceeds the percentage that the member would have
shared in a cash distribution equal to the value of the asset at the time of distribution.
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