CODE OF VIRGINIA

DISTRIBUTION IN KIND (§ 13.1-1034)

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.

HISTORY: 1991, c. 168.