LLC.1.5.040 Distribution upon Dissociation

Except as otherwise provided in this Part, upon an event of dissociation under Section LLC.1.3.070 that does not cause dissolution of the LLC, a dissociating Owner is entitled to receive any distribution to which Owner is entitled under the Operating Agreement and, if not otherwise provided in the Operating Agreement, the fair market value of the Owner's interest in the LLC based on the Owner's rights to share in distributions from the LLC.