Liability for Distributions. A Member who receives an erroneous distribution for the Company shall have no liability under the Act or any other applicable law for the amount of the erroneous distribution after the expiration of six (6) years from the date of the erroneous distribution unless an action to recover the distribution from such member is commenced prior to the expiration of such six- (6-) year period and an adjudication of liability against such Member is made in such action.
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Sources: Limited Liability Company Agreement (Lazare Kaplan International Inc), Limited Liability Company Agreement (Lazare Kaplan International Inc)
Liability for Distributions. A Member who receives an erroneous a distribution for the Company shall have no liability under the Act or any other applicable law for the amount of the erroneous distribution after the expiration of six (6) years from the date of the erroneous distribution unless an action to recover the distribution from such member is commenced prior to the expiration of such six- (6-) year period and an adjudication of liability against such Member is made in such action.
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