Kansas Statutes Annotated
Updated Through the 2013 Legislative Session

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Statute Number:17-76,109
Chapter Title:CORPORATIONS
Article Title:LIMITED LIABILITY COMPANIES
Tax Type:Corporate Income Tax; Corporation Franchise Tax
Brief Description:Right to distribution.
Keywords:


Body:

17-76,109. Right to distribution. Subject to K.S.A. 17-76,110 and 17-76,119, and amendments thereto, and unless otherwise provided in an operating agreement, 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 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.
History: L. 1999, ch. 119, 48; Jan. 1, 2000.


Date Composed: 04/04/2011 Date Modified: 04/04/2011

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