The Florida Senate

608.444  Distribution of assets upon dissolution.--In settling accounts after dissolution of a limited liability company, the assets of the limited liability company must be distributed in the following order:

(1)  To creditors, including members who are creditors, to the extent permitted by law in satisfaction of liabilities of the limited liability company, whether by payment or establishment of reserves, other than liabilities for distributions to members under s. 608.426 or s. 608.427.

(2)  Except as provided in the regulations, to members and former members in satisfaction of liabilities for distributions under s. 608.426 or s. 608.427.

(3)  Except as provided in the articles of organization or the regulations, to members in proportion to their respective capital accounts.

History.--s. 2, ch. 82-177; s. 43, ch. 93-284.