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June 17, 2024 Clouds | 61°F
The 193rd General Court of the Commonwealth of Massachusetts

Section 31: Entitlement to distributions

Section 31. Except as provided in sections thirty-two and forty-six, a member is entitled to receive distributions from a limited liability company only to the extent and at the times or upon the happening of the events specified in the operating agreement or, if the operating agreement does not so specify, as determined by the members or managers pursuant to section twenty-one or section twenty-six.