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NOTE: This section was repealed by L.2012, c. 50, effective 2014-03-01.
New Jersey Statutes, Title: 42, PARTNERSHIPS AND PARTNERSHIP ASSOCIATIONS
Chapter 2b:
Section: 42:2b-35: Distributions of cash, other assets
35. Distributions of cash or other assets of a limited liability company shall be allocated among the members, and among classes or groups of members, in the manner provided in an operating agreement. If the operating agreement does not so provide, distributions shall be made on the basis of the agreed value (as stated in the records of the limited liability company) of the contributions made by each member to the extent they have been received by the limited liability company and have not been returned.
L.1993,c.210,s.35.
This section added to the Rutgers Database: 2012-09-26 13:37:53.
Older versions of 42:2b-35 (if available):
Court decisions that cite this statute:
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