← belizelaw.ai · International Limited Liability Companies, Cap. 270:01 · PART V — Contributions to and Distributions in Companies

Distributions on withdrawal

Cap. 270:01, s. 47 · Revised Edition 2020

On any event of withdrawal of a member, except as otherwise provided in an operating agreement, neither the withdrawn member nor the withdrawn member’s personal representatives, successors and assigns have the right to receive any distribution by reason of the withdrawal, but do have the rights of an assignee of the withdrawn member’s interest in the limited liability company to receive distributions with respect to the member’s interest during any continuation of the business of the limited liability company and during and on completion of winding up less any damages recoverable against the withdrawn member if the event of withdrawal violated this Act or an operating agreement.
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Distributions on withdrawal — Cap. 270:01 s. 47 · Belize Law