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NRS 86.346 - Distributions: Form; status of member or transferee.

NV Rev Stat § 86.346 (2019) (N/A)
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1. Unless otherwise provided in the operating agreement, a member, regardless of the nature of the member’s contributions, or a transferee, regardless of the nature of the contributions of the transferee’s predecessor, has no right to demand or receive any distribution from a limited-liability company in any form other than cash.

2. Except as otherwise provided in NRS 86.391 and 86.521, and unless otherwise provided in the operating agreement, at the time a member or transferee becomes entitled to receive a distribution the member or transferee has the status of and is entitled to all remedies available to a creditor of the company with respect to the distribution.

(Added to NRS by 1995, 2106; A 1997, 720)

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NRS 86.345 - Distributions: Limitations applicable to restricted limited-liability companies.
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NRS 86.351 - Nature and transfer of member’s interest; rights of transferee; substituted members.