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506 — New York Law | CourtGPT
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  5. Article 5 - Contributions and Distributions501 - Form of Capital Contributions/
  6. 506
New York Legal Code

506

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Subject to sections five hundred eight and seven hundred four of this chapter, at the time a member becomes entitled to receive a distribution, such member has the status of, and is entitled to all remedies available to, a creditor of the limited liability company with respect to the distribution.