N.Y. Limited Liability Company Law Section 507
Interim distributions

Except as provided in this chapter, to the extent and at the times or upon the happening of events specified in the operating agreement, a member is entitled to receive distributions from a limited liability company before his or her withdrawal from the limited liability company and before the dissolution and winding up of the limited liability company.

Source: Section 507 — Interim distributions, https://www.­nysenate.­gov/legislation/laws/LLC/507 (updated Sep. 22, 2014; accessed Feb. 28, 2026).

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Verified:
Feb. 28, 2026

Last modified:
Sep. 22, 2014

§ 507. Interim distributions's source at nysenate​.gov

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