Missouri § 347.101 - Distributions required, when — manner.
Full text of Missouri Revised Statutes of Missouri § 347.101 — Distributions required, when — manner., with citation guidance and answers to common questions.
§ 347.101. Distributions required, when — manner.
1. Except as provided in section 347.109, a limited liability company shall make distributions of cash or other property to its members before the dissolution and winding up of the limited liability company at the times or upon the happening of the events specified in the operating agreement or, if the operating agreement does not so specify, then at such times as may be approved by a majority of the authorized persons.
2. Distributions of cash or other property to members by a limited liability company before the dissolution and winding up of a limited liability company shall be shared among the members, and among classes of members, in the manner and in the relative priorities provided in the operating agreement. If the operating agreement does not so provide, distributions shall be shared among the members in the following manner:
(1) First, distributions shall be shared among the members in proportion to the amount of cash contributions and the value of other contributions, as stated in the operating agreement or the records required to be kept pursuant to section 347.091, made by them, respectively, until each member has been returned his contributions; and
(2) Second, distributions shall be shared by the members equally.
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(L. 1993 S.B. 66 & 20 § 359.756)
Effective 12-01-93
---- end of effective 01 Dec 1993 ----
Frequently Asked Questions About Missouri § 347.101
What does Revised Statutes of Missouri § 347.101 cover?
Section 347.101 ("Distributions required, when — manner.") is part of the Revised Statutes of Missouri, the codified statutory law of Missouri. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Missouri § 347.101?
A common citation format is "Revised Statutes of Missouri § 347.101" (Missouri). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Missouri law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Missouri official source linked on this page or consult a licensed Missouri attorney.
How does Missouri § 347.101 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Missouri can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Missouri.