Cite as: 18 CNCA § 230

If a member has received a distribution in violation of the operating agreement or 18 CNCA § 229, the member shall be liable to the limited liability company for the amount of the distribution wrongfully made. An action for the recovery of any wrongful distribution to a member must be brought within three (3) years from the date of the distribution.

Historical Data

LA 32–04, eff. July 16, 2004.