N.C. Gen. Stat. § 57D-6-08
Marshaling of assets
Redline — June 1, 2021 → current.View current text →
Current — April 1, 2022
As of June 1, 2021
During the winding up of an LLC, the LLC's assets are to be applied as follows:
During the winding up of an LLC, the LLC’s assets are to be applied as follows:
(1) First to creditors, including interest owners, managers, and other company officials who are creditors in satisfaction, whether by payment or making provision for payment of all liabilities of the LLC.
(1) First to creditors, including interest owners, managers, and other company officials who are creditors in satisfaction, whether by payment or making provision for payment of all liabilities of the LLC.
(2) The balance to the interest owners as distributions made in the manner provided in G.S. 57D-4-03.
(2) The balance to the interest owners as distributions made in the manner provided in G.S. 57D-4-03.
History
(2013-157, s. 2.)
Official source: North Carolina General Assembly. Reproduced from public-domain North Carolina statutes; confirm against the official source for the current text. Not legal advice.