Title XXVIII, Partnerships

Unless the operating agreement provides otherwise, the following terms shall have the following meanings: I. Distribution. A distribution by the limited liability company to a member shall mean any transfer of its cash or other assets to the member except: (a) Payments to a membe…

Subject to RSA 304-C:93 and RSA 304-C:141, and unless the operating agreement provides otherwise, at the time a member becomes entitled to receive a distribution, the member has the status of, and is entitled to all remedies available to, a creditor of a limited liability company…

I. A limited liability company shall not make a distribution to a member to the extent that at the time of the distribution, after giving effect to the distribution, the company would not be able to pay its debts as they become due. II. (a) A member who receives a distribution in…

I. Unless the operating agreement provides otherwise, a member-managed multi-member limited liability company shall make interim distributions at such times and in such aggregate amounts as determined by majority vote of the members from time to time. II. Unless the operating agr…

I. Distributions by a limited liability company shall be allocated among the members, and among classes or groups of members, in the manner provided in the operating agreement. II. Unless the operating agreement provides otherwise, distributions shall be made on the basis of the …

I. Unless the operating agreement provides otherwise, and in any case subject to the limitations provided in paragraph II, a member that has a right to a distribution, regardless of the nature of the member's contribution, has no right to demand and receive any distribution from …

I. An operating agreement may provide for the establishment of a record date with respect to distributions to its members. II. Unless the operating agreement or a vote of the members or managers provide otherwise, the record date for a distribution shall be the date on which the …

Subject to the provisions of RSA 304-C:105 and RSA 304-C:153, the dissociation of a member shall mean the termination of all of the member's membership rights except: I. The member's limited liability company interest; and II. The rights identified in RSA 304-C:99.

I. If, after dissociation, a former member retains all or any part of the former member's limited liability company interest, the former member shall be entitled to the following rights: (a) Subject to reasonable restrictions as determined from time to time by the limited liabili…