2025 Session
Last amended: 2014 session
§ 322C.0504 — Power of Personal Representative of Deceased Member
Plain-Language Summary
Distributions from the LLC (like profit payments) must be made equally to all members unless the operating agreement says otherwise.
322C.0504 POWER OF PERSONAL REPRESENTATIVE OF DECEASED MEMBER.
If a member dies, the deceased member’s personal representative or other legal representative may exercise the rights of a transferee provided in section 322C.0502, subdivision 3, and, for the purposes of settling the estate, the rights of a current member under section 322C.0410.
History:
History: History:
2014 c 157 art 1 s 43
Practical Notes
By default, when an LLC pays out money to members, everyone gets an equal share. Your operating agreement can change this.