N.Y. Limited Liability Company Law 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.

Source: Section 506 — Right to distribution, https://www.­nysenate.­gov/legislation/laws/LLC/506 (updated Sep. 22, 2014; accessed Jan. 18, 2025).

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Accessed:
Jan. 18, 2025

Last modified:
Sep. 22, 2014

§ 506’s source at nysenate​.gov

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