Source: https://code.dccouncil.us/dc/council/code/sections/29-807.05.html
Timestamp: 2019-04-20 19:01:20+00:00

Document:
D.C. Law Library - § 29–807.05. Distribution of assets in winding up limited liability company’s activities and affairs.
↪ Subchapter VII. Dissolution and Winding up.
↪ § 29–807.05. Distribution of assets in winding up limited liability company’s activities and affairs.
§ 29–807.04. Other claims against dissolved limited liability company.
§ 29–807.05. Distribution of assets in winding up limited liability company’s activities and affairs.
(a) In winding up its activities and affairs, a limited liability company shall apply its assets to discharge its obligations to creditors, including members that are creditors.
(2) In equal shares among members and dissociated members, except to the extent necessary to comply with any transfer effective under § 29-805.02.
(c) If a limited liability company does not have sufficient surplus to comply with subsection (b)(1) of this section, any surplus must be distributed among the owners of transferable interests in proportion to the value of their respective unreturned contributions.
(d) All distributions made under subsections (b) and (c) of this section must be paid in money.
This section is referenced in § 29-804.04 and § 29-804.05.
The 2013 amendment by D.C. Law 19-210 substituted “activities and affairs” for “activities” in the section heading and in (a).
Uniform Law: This section is based on § 705 of the Uniform Limited Company Act (2006 Act).

References: § 29
 § 29

§ 29

§ 29
 § 29
 § 29
 § 29
 § 705