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NOTE: This section was repealed by L.2012, c. 50, effective 2014-03-01.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-41: Creditor status for member entitled to distribution
41. Subject to sections 42 and 51 of this act, and unless otherwise provided in an operating agreement, at the time a member becomes entitled to receive a distribution, he has the status of, and is entitled to all remedies available to, a creditor of a limited liability company with respect to the distribution. An operating agreement may provide for the establishment of a record date with respect to allocations and distributions by a limited liability company.
L.1993,c.210,s.41.
This section added to the Rutgers Database: 2012-09-26 13:37:53.
Older versions of 42:2b-41 (if available):
Court decisions that cite this statute:
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