Statute · New York Limited Liability Company Law
N.Y. Ltd. Liab. Co. Law § 506 — Right to distribution
N.Y. Ltd. Liab. Co. Law § 506
- Type
- Statute
- Source
- New York Limited Liability Company Law
- Jurisdiction
- New York
- Current through
- Nov 5, 2026 (NY Senate Open Legislation)
§ 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…
Citator
N.Y. Ltd. Liab. Co. Law § 506 — Right to distribution is in force in the current edition of the Code, and nothing recorded condemns it.
§ 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.