N.Y. Limited Liability Company Law § 506

Current through 2024 NY Law Chapters 1-59 and 61-118
Section 506 - Right to distribution

Subject to sections five hundred eight and seven hundred four of this chapter, at the time a member becomes entitled to receive a distribution, such member has the status of, and is entitled to all remedies available to, a creditor of the limited liability company with respect to the distribution.

N.Y. Limited Liability Company Law Law § 506