Alaska Statutes.
Title 10. Corporations and Associations
Chapter 50. Alaska Revised Limited Liability Company Act
Section 340. Distribution in Kind.
previous: Section 335. Distributions When a Person Ceases to Be a Member. [Repealed, 23 Ch 78 SLA 1997].
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AS 10.50.340. Distribution in Kind.

(a) Unless otherwise provided in an operating agreement of the company, a member, regardless of the nature of the member's contribution, may not demand and receive a distribution from a limited liability company in a form other than cash.

(b) Unless otherwise provided in an operating agreement of the company, a limited liability company may not compel a member of the company to accept from the company a distribution of a company asset in a form other than cash to the extent that the percentage of the asset distributed to the member exceeds the percentage that the member would have shared in a cash distribution equal to the value of the asset at the time of distribution.

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