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Mass. Gen. Laws ch. 156C, § 32

Distribution to resigning member

Known as the Massachusetts Limited Liability Company Act

The act spans §§ 156C-1 to 156C-9 (73 sections).

Upon resignation, a resigning member is entitled to receive any distribution to which he is entitled upon resignation under a written operating agreement. If not otherwise provided in a written operating agreement, a resigning member is entitled to receive, within a reasonable time after resignation, the fair value of his limited liability company interest as of the date of resignation based upon his right to share in distributions from the limited liability company.

Official source: Massachusetts Legislature. Reproduced from public-domain Massachusetts statutes; confirm against the official source for the current text. Not legal advice.