35-8-602. Distributions on event of dissociation. Upon the occurrence of an event of dissociation under 35-8-802 that does not cause dissolution, a dissociating member is entitled to receive:
     (1) any distribution to which the member is entitled under the articles of organization or the operating agreement; and
     (2) if not otherwise provided in the articles of organization or the operating agreement, within a reasonable time after dissociation, the fair value of the member's interest in the limited liability company as of the date of dissociation based upon the member's right to share in distributions from the limited liability company.

     History: En. Sec. 33, Ch. 120, L. 1993.