Any cash distributions made by a limited liability company to a dissenting member after the date of consummation of the reorganization, but prior to any payment by the limited liability company for that dissenting member’s interest, shall be credited against the total amount to be paid by the limited liability company for such dissenting interest.
Cal. Corp. Code § 17711.09
Dissenters’ Rights
Known as the California Revised Uniform Limited Liability Company Act
The act spans §§ 17701–17713 (112 sections).
Added by Stats. 2012, Ch. 419, Sec. 20
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.