Common use of Distribution of Property in Kind Clause in Contracts

Distribution of Property in Kind. Property of the company may be distributed in kind in the process of winding up with the unanimous approval of the members. The fair market value of any property distributed in kind must be determined, and that value must be charged against the amount distributable to the member receiving the property.

Distribution of Property in Kind. Property of the company Company may be distributed to Members in kind in the process of winding up with the unanimous approval of the membersMembers. The fair market value of any property distributed in kind must be determined, and that value must will be charged against the amount distributable to the member Member receiving the property.