{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/13.1-1034.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/13.1-1034.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/13.1-1034.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/13.1-1034.html"}],"law_id":73763,"edition_id":1,"section_id":73763,"structure_id":14004,"section_number":"13.1-1034","catch_line":"Distribution in kind","history":"1991, c. 168.","full_text":"Except as provided in writing in the articles of organization or an operating agreement, a member, regardless of the nature of his or its 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 writing in the articles of organization or an 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 or it exceeds a percentage of that asset which his or its membership interest constitutes of all membership interests in the limited liability company.","order_by":null,"text":{"0":{"id":265260,"text":"Except as provided in writing in the articles of organization or an operating agreement, a member, regardless of the nature of his or its 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 writing in the articles of organization or an 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 or it exceeds a percentage of that asset which his or its membership interest constitutes of all membership interests in the limited liability company.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1}},"ancestry":[{"id":14004,"edition_id":1,"name":"Finance","identifier":"6","label":"article","depth":3,"order_by":1,"parent_id":12817,"metadata":{},"date_created":"2026-06-26 03:46:34","date_modified":"2026-06-26 03:46:34","permalink":{"id":148861,"object_type":"structure","relational_id":14004,"identifier":"6","token":"13.1\/12\/6","url":"\/13.1\/12\/6\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12817,"edition_id":1,"name":"Virginia Limited Liability Company Act","identifier":"12","label":"chapter","depth":2,"order_by":1,"parent_id":12744,"metadata":{},"date_created":"2026-06-26 03:43:54","date_modified":"2026-06-26 03:43:54","permalink":{"id":148351,"object_type":"structure","relational_id":12817,"identifier":"12","token":"13.1\/12","url":"\/13.1\/12\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12744,"edition_id":1,"name":"Corporations","identifier":"13.1","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:51","date_modified":"2026-06-26 03:43:51","permalink":{"id":147493,"object_type":"structure","relational_id":12744,"identifier":"13.1","token":"13.1","url":"\/13.1\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":56042,"structure_id":14004,"section_number":"13.1-1029","catch_line":"Sharing of profits and losses","url":"\/13.1-1029\/","token":"13.1\/12\/6\/13.1-1029","metadata":false},{"id":73279,"structure_id":14004,"section_number":"13.1-1030","catch_line":"Sharing of distributions","url":"\/13.1-1030\/","token":"13.1\/12\/6\/13.1-1030","metadata":false},{"id":77425,"structure_id":14004,"section_number":"13.1-1031","catch_line":"Interim distributions","url":"\/13.1-1031\/","token":"13.1\/12\/6\/13.1-1031","metadata":false},{"id":55088,"structure_id":14004,"section_number":"13.1-1032","catch_line":"Resignation of member","url":"\/13.1-1032\/","token":"13.1\/12\/6\/13.1-1032","metadata":false},{"id":61693,"structure_id":14004,"section_number":"13.1-1033","catch_line":"Repealed","url":"\/13.1-1033\/","token":"13.1\/12\/6\/13.1-1033","metadata":false},{"id":73763,"structure_id":14004,"section_number":"13.1-1034","catch_line":"Distribution in kind","url":"\/13.1-1034\/","token":"13.1\/12\/6\/13.1-1034","metadata":false},{"id":72538,"structure_id":14004,"section_number":"13.1-1035","catch_line":"Restrictions on making distribution","url":"\/13.1-1035\/","token":"13.1\/12\/6\/13.1-1035","metadata":false},{"id":60226,"structure_id":14004,"section_number":"13.1-1036","catch_line":"Liability upon wrongful distribution","url":"\/13.1-1036\/","token":"13.1\/12\/6\/13.1-1036","metadata":false},{"id":71027,"structure_id":14004,"section_number":"13.1-1037","catch_line":"Right to distribution","url":"\/13.1-1037\/","token":"13.1\/12\/6\/13.1-1037","metadata":false}],"previous_section":{"id":61693,"structure_id":14004,"section_number":"13.1-1033","catch_line":"Repealed","url":"\/13.1-1033\/","token":"13.1\/12\/6\/13.1-1033","metadata":false},"next_section":{"id":72538,"structure_id":14004,"section_number":"13.1-1035","catch_line":"Restrictions on making distribution","url":"\/13.1-1035\/","token":"13.1\/12\/6\/13.1-1035","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/13.1-1034\/","history_text":"

This law was first created in 1991. The record of its establishment is cataloged in chapter 168 of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year. Unfortunately, the 1991 \u201cActs\u201d aren\u2019t available online.<\/p>","references":false,"refers_to":false,"permalink":{"id":148883,"object_type":"law","relational_id":73763,"identifier":"13.1-1034","token":"13.1\/12\/6\/13.1-1034","url":"\/13.1-1034\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/13.1-1034\/","token":"13.1\/12\/6\/13.1-1034","dublin_core":{"Title":"Distribution in kind","Type":"Text","Format":"text\/html","Identifier":"\u00a7 13.1-1034","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

Except as provided in writing in the articles of organization<\/span> or an operating agreement<\/span>, a member<\/span>, regardless of the nature of his or its contribution<\/span>, has no right to demand and receive any distribution<\/span> from a limited liability company<\/span> in any form other than cash. Except as provided in writing in the articles of organization<\/span> or an operating agreement<\/span>, a member<\/span> may not be compelled to accept a distribution<\/span> of any asset in kind from a limited liability company<\/span> to the extent that the percentage of the asset distributed to him or it exceeds a percentage of that asset which his or its membership interest<\/span> constitutes of all membership interests<\/span> in the limited liability company<\/span>.<\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nDISTRIBUTION IN KIND (\u00a7 13.1-1034)\n\nExcept as provided in writing in the articles of organization or an operating\nagreement, a member, regardless of the nature of his or its contribution, has no\nright to demand and receive any distribution from a limited liability company in\nany form other than cash. Except as provided in writing in the articles of\norganization or an operating agreement, a member may not be compelled to accept\na distribution of any asset in kind from a limited liability company to the\nextent that the percentage of the asset distributed to him or it exceeds a\npercentage of that asset which his or its membership interest constitutes of all\nmembership interests in the limited liability company.\n\nHISTORY: 1991, c. 168.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}