Hawaii Revised Statutes 428-405 – Sharing of and right to distributions

(a) Any distributions made by a limited liability company, prior to dissolution and winding up, must be in equal shares.

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Terms Used In Hawaii Revised Statutes 428-405

Distribution: means a transfer of money, property, or other benefit from a limited liability company to a member in the member's capacity as a member or to a transferee of the member's distributional interest. See Hawaii Revised Statutes 428-101
Limited liability company: means a limited liability company organized under this chapter. See Hawaii Revised Statutes 428-101

(b) A member has no right to receive, and may not be required to accept, a distribution in kind.

(c) If 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 the limited liability company with respect to the distribution.

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Hawaii Revised Statutes 428-405 – Sharing of and right to distributions

Terms Used In Hawaii Revised Statutes 428-405

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