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<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:windowtext">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.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:windowtext"><o:p> </o:p></span></p>
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<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:windowtext">Bryce H. Dille<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:windowtext">Dille Law, PLLC<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:windowtext">2010 Caton Way SW Ste. 101<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:windowtext">Olympia, WA 98502<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:windowtext">Office: 360-350-0270<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:windowtext">Cell: 253-579-5561<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:windowtext"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt"><img width="147" height="39" style="width:1.5312in;height:.4062in" id="yiv4204109992_x005f_x0000_i1027" src="cid:image004.png@01D930DD.79077DA0" alt="R_Alan_Swanson-WH-200"></span><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:windowtext"><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:windowtext">** Please note that I use the dictation feature of my iPhone and that sometimes everything I say does not get properly translated**<o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:windowtext">This transmission contains confidential attorney-client communications and may not be disclosed to any person but the intended recipient(s). If this matter
is transmitted to you in error, please notify the sender immediately. <o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:windowtext">Business Entity Creation and Management, Business, Government and Tax Law, Real Estate and Land Use, Residential, Commercial and Condominium Development Real
Estate and Commercial Transactions & Closings, Including Performing Services as IRS Section 1031 Exchange Facilitator Estate Planning, including Wills and Trusts, and Probate Administration Representation Homeowners/Condominium Association Real Estate Developments
Real Property Foreclosures and Forfeitures.<o:p></o:p></span></p>
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<p class="MsoNormal"><b><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:windowtext">From:</span></b><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:windowtext"> wsbarp-bounces@lists.wsbarppt.com <wsbarp-bounces@lists.wsbarppt.com>
<b>On Behalf Of </b>Roger Hawkes<br>
<b>Sent:</b> Wednesday, January 25, 2023 4:35 PM<br>
<b>To:</b> WSBA Real Property Listserv <wsbarp@lists.wsbarppt.com><br>
<b>Subject:</b> Re: [WSBARP] LLC economic interest<o:p></o:p></span></p>
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<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:windowtext">If no written operating agreement the ‘operating agreement’ is defined by statute; is that topic covered?<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:windowtext"><o:p> </o:p></span></p>
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<p class="MsoNormal"><b><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:windowtext">From:</span></b><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:windowtext">
<a href="mailto:wsbarp-bounces@lists.wsbarppt.com">wsbarp-bounces@lists.wsbarppt.com</a> <<a href="mailto:wsbarp-bounces@lists.wsbarppt.com">wsbarp-bounces@lists.wsbarppt.com</a>>
<b>On Behalf Of </b>Tom Westbrook<br>
<b>Sent:</b> Wednesday, January 25, 2023 4:21 PM<br>
<b>To:</b> WSBA Real Property Listserv <<a href="mailto:wsbarp@lists.wsbarppt.com">wsbarp@lists.wsbarppt.com</a>><br>
<b>Subject:</b> Re: [WSBARP] LLC economic interest<o:p></o:p></span></p>
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<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:windowtext"><img border="0" width="100" height="100" style="width:1.0416in;height:1.0416in" id="_x0000_i1027" src="cid:image001.gif@01D930DD.79077DA0"></span><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:windowtext"><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;color:#1F497D">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.</span><o:p></o:p></p>
<p class="MsoNormal"><span style="font-size:11.0pt;color:#1F497D"> </span><o:p></o:p></p>
<p class="MsoNormal"><span style="font-size:11.0pt;color:#1F497D">Sincerely,</span><o:p></o:p></p>
<p class="MsoNormal"><span style="font-size:11.0pt;color:#1F497D"> </span><o:p></o:p></p>
<p class="MsoNormal"><span style="font-size:11.0pt;color:#1F497D">Tom</span><o:p></o:p></p>
<p class="MsoNormal"><span style="font-size:11.0pt;color:#1F497D"> </span><o:p></o:p></p>
<p class="MsoNormal"><span style="font-size:11.0pt;color:#1F497D">Thomas J. Westbrook</span><o:p></o:p></p>
<p class="MsoNormal"><span style="font-size:11.0pt;color:#1F497D">Attorney at Law</span><o:p></o:p></p>
<p class="MsoNormal"><span style="font-size:11.0pt;color:#1F497D"> </span><o:p></o:p></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:#1F497D"><img border="0" width="152" height="62" style="width:1.5833in;height:.6458in" id="Picture_x0020_2" src="cid:image005.jpg@01D930DD.79077DA0"></span><o:p></o:p></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Book Antiqua",serif;color:#1F497D">324 West Bay Drive NW, Suite 201</span><span style="color:#1F497D"><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Book Antiqua",serif;color:#1F497D">Olympia, WA 98502</span><o:p></o:p></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Book Antiqua",serif;color:#1F497D">(360) 866-4000 phone</span><o:p></o:p></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Book Antiqua",serif;color:#1F497D">(360) 866--3832 fax</span><o:p></o:p></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Book Antiqua",serif;color:#1F497D"><a href="http://www.buddbaylaw.com/"><span style="color:blue">www.buddbaylaw.com</span></a></span><o:p></o:p></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:#1F497D"> </span><o:p></o:p></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:red">COVID POLICY:</span><o:p></o:p></p>
<p class="MsoNormal"><i><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:#1F497D">Our firm continues to follow guidance from the CDC and Governor Inslee’s office regarding social distancing and the wearing of face coverings, and we encourage
the public and our clients to do the same. Our staff is still working remotely much of the time so electronic communication by phone and email continues to be encouraged. We appreciate your patience and understanding.</span></i><o:p></o:p></p>
<p class="MsoNormal"><span style="font-size:11.0pt;color:#1F497D"> </span><o:p></o:p></p>
<p class="MsoNormal"><span style="font-size:11.0pt;color:#1F497D"> </span><o:p></o:p></p>
<p class="MsoNormal"><span style="font-size:11.0pt;color:#1F497D"> </span><o:p></o:p></p>
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<p class="MsoNormal"><b><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:windowtext">From:</span></b><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:windowtext">
<a href="mailto:wsbarp-bounces@lists.wsbarppt.com">wsbarp-bounces@lists.wsbarppt.com</a> <<a href="mailto:wsbarp-bounces@lists.wsbarppt.com">wsbarp-bounces@lists.wsbarppt.com</a>>
<b>On Behalf Of </b>Roger Hawkes<br>
<b>Sent:</b> Wednesday, January 25, 2023 3:46 PM<br>
<b>To:</b> WSBA Real Property Listserv <<a href="mailto:wsbarp@lists.wsbarppt.com">wsbarp@lists.wsbarppt.com</a>><br>
<b>Subject:</b> Re: [WSBARP] LLC economic interest</span><o:p></o:p></p>
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<p class="MsoNormal"> <o:p></o:p></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:windowtext">Please post answers to the list or include me. I have a case where this is an issue.</span><o:p></o:p></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:windowtext"> </span><o:p></o:p></p>
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<p class="MsoNormal"><b><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:windowtext">From:</span></b><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:windowtext">
<a href="mailto:wsbarp-bounces@lists.wsbarppt.com">wsbarp-bounces@lists.wsbarppt.com</a> <<a href="mailto:wsbarp-bounces@lists.wsbarppt.com">wsbarp-bounces@lists.wsbarppt.com</a>>
<b>On Behalf Of </b>Ralph Maimon<br>
<b>Sent:</b> Wednesday, January 25, 2023 11:44 AM<br>
<b>To:</b> WSBA Real Property Listserv <<a href="mailto:wsbarp@lists.wsbarppt.com">wsbarp@lists.wsbarppt.com</a>><br>
<b>Subject:</b> [WSBARP] LLC economic interest</span><o:p></o:p></p>
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<p class="MsoNormal"> <o:p></o:p></p>
<p class="MsoNormal">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?.
<o:p></o:p></p>
<p class="MsoNormal"> <o:p></o:p></p>
<p class="MsoNormal"><b><span style="font-size:26.0pt;font-family:Mistral;color:#2F5496">Ralph Maimon</span></b><o:p></o:p></p>
<p class="MsoNormal"><span style="font-family:"Times New Roman",serif"> </span><o:p></o:p></p>
<p class="MsoNormal"><span style="font-family:"Times New Roman",serif">Law Office of Ralph Maimon, P.S.</span><o:p></o:p></p>
<p class="MsoNormal"><span style="font-family:"Times New Roman",serif">2811 E. Madison Street, Suite 202</span><o:p></o:p></p>
<p class="MsoNormal"><span style="font-family:"Times New Roman",serif">Seattle, WA 98112</span><o:p></o:p></p>
<p class="MsoNormal"><span style="font-family:"Times New Roman",serif">(206) 323-0911</span><o:p></o:p></p>
<p class="MsoNormal"><span style="font-family:"Times New Roman",serif">Fax: (206)462-1505</span><o:p></o:p></p>
<p class="MsoNormal"><span style="font-family:"Times New Roman",serif"><a href="http://www.maimonlaw.com/"><span style="color:#0563C1">www.maimonlaw.com</span></a>
</span><o:p></o:p></p>
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<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif"><img border="0" width="84" height="120" style="width:.875in;height:1.25in" id="Picture_x0020_1" src="cid:image006.gif@01D930DD.79077DA0"></span><o:p></o:p></p>
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<p class="MsoNormal"><span style="font-family:"Times New Roman",serif">This email is confidential. If you have received it in error,</span><o:p></o:p></p>
<p class="MsoNormal"><span style="font-family:"Times New Roman",serif">please notify me and delete it from your device
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<p class="MsoNormal"><span style="font-family:"Times New Roman",serif">without reading. Thank you.
</span><o:p></o:p></p>
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