Except as provided in the articles of organization or a written operating agreement:
- A member, regardless of the nature of the member’s contribution, has no right to demand and receive any distribution from a limited liability company in any form other than cash; and
- No member may be compelled to accept from a limited liability company a distribution of any asset in kind to the extent that the percentage of the asset distributed to the member exceeds a percentage that is equal to the percentage in which the member shares in distributions from the limited liability company.
History. Code 1981, § 14-11-406 , enacted by Ga. L. 1993, p. 123, § 1.