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Mass. Gen. Laws ch. 156C, § 33

Form of distribution on demand; acceptance of distribution of assets

Known as the Massachusetts Limited Liability Company Act

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

Except as provided in a written operating agreement, a member, regardless of the nature of his contribution, has no right to demand and receive any distribution from a limited liability company in any form other than cash. Except as provided in a written operating agreement, a member may not be compelled to accept a distribution of any asset in kind from a limited liability company to the extent that the percentage of the asset distributed to him exceeds a percentage of the asset which is equal to the percentage in which he shares 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.