[WSBARP] LLC economic interest

[Bryce Dille]

If no operating agreement or if there is not provision for distributions if there is an agreement then RCW25.16.206 applies which is distributions are made in proportion to agreed value of contributions made and any required to be made but not yet made by each member.

Bryce H. Dille
Dille Law, PLLC
2010 Caton Way SW Ste. 101
Olympia, WA 98502
Office: 360-350-0270
Cell: 253-579-5561

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From: wsbarp-bounces at lists.wsbarppt.com <wsbarp-bounces at lists.wsbarppt.com> On Behalf Of Roger Hawkes
Sent: Wednesday, January 25, 2023 4:35 PM
To: WSBA Real Property Listserv <wsbarp at lists.wsbarppt.com>
Subject: Re: [WSBARP] LLC economic interest

If no written operating agreement the ‘operating agreement’ is defined by statute; is that  topic covered?

From: wsbarp-bounces at lists.wsbarppt.com<mailto:wsbarp-bounces at lists.wsbarppt.com> <wsbarp-bounces at lists.wsbarppt.com<mailto:wsbarp-bounces at lists.wsbarppt.com>> On Behalf Of Tom Westbrook
Sent: Wednesday, January 25, 2023 4:21 PM
To: WSBA Real Property Listserv <wsbarp at lists.wsbarppt.com<mailto:wsbarp at lists.wsbarppt.com>>
Subject: Re: [WSBARP] LLC economic interest

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I would start with the Operating Agreement. At least that is where I would put any language like that. If it isn’t there, then I am not aware of any statutory basis that falls under.

Sincerely,

Tom

Thomas J. Westbrook
Attorney at Law

[cid:image005.jpg at 01D930DD.79077DA0]
324 West Bay Drive NW, Suite 201
Olympia, WA 98502
(360) 866-4000 phone
(360) 866--3832 fax
www.buddbaylaw.com<http://www.buddbaylaw.com/>

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From: wsbarp-bounces at lists.wsbarppt.com<mailto:wsbarp-bounces at lists.wsbarppt.com> <wsbarp-bounces at lists.wsbarppt.com<mailto:wsbarp-bounces at lists.wsbarppt.com>> On Behalf Of Roger Hawkes
Sent: Wednesday, January 25, 2023 3:46 PM
To: WSBA Real Property Listserv <wsbarp at lists.wsbarppt.com<mailto:wsbarp at lists.wsbarppt.com>>
Subject: Re: [WSBARP] LLC economic interest

Please post answers to the list or include me.  I have a case where this is an issue.

From: wsbarp-bounces at lists.wsbarppt.com<mailto:wsbarp-bounces at lists.wsbarppt.com> <wsbarp-bounces at lists.wsbarppt.com<mailto:wsbarp-bounces at lists.wsbarppt.com>> On Behalf Of Ralph Maimon
Sent: Wednesday, January 25, 2023 11:44 AM
To: WSBA Real Property Listserv <wsbarp at lists.wsbarppt.com<mailto:wsbarp at lists.wsbarppt.com>>
Subject: [WSBARP] LLC economic interest

Is anyone aware of any law or precedent that allows an economic interest  member of an LLC to receive the proceeds of the income producing property itself on its sale or is he/she restricted to the regular income?.

Ralph Maimon

Law Office of Ralph Maimon, P.S.
2811 E. Madison Street, Suite 202
Seattle, WA 98112
(206) 323-0911
Fax: (206)462-1505
www.maimonlaw.com<http://www.maimonlaw.com/>


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