{"id":583,"date":"2011-05-31T13:31:30","date_gmt":"2011-05-31T20:31:30","guid":{"rendered":"http:\/\/www.keytlaw.com\/azllclaw\/?page_id=583"},"modified":"2017-02-25T05:00:44","modified_gmt":"2017-02-25T12:00:44","slug":"ars-section-29-708","status":"publish","type":"page","link":"https:\/\/www.keytlaw.com\/azllclaw\/arizona-llc-statutes\/article-5\/ars-section-29-708\/","title":{"rendered":"ARS Section 29-708 Distribution on Winding Up"},"content":{"rendered":"<p style=\"text-align: justify;\">On the winding up of a limited liability company, its assets shall be applied and distributed in the following order:<\/p>\n<p style=\"padding-left: 30px; text-align: justify;\">1. To creditors, including members who are creditors, to the extent permitted by law, in satisfaction of liabilities of the limited liability company other than liabilities for distributions to members and former members under section 29-703 or 29-707.<\/p>\n<p style=\"padding-left: 30px; text-align: justify;\">2. Except as provided in an operating agreement, to members and former members in satisfaction of liabilities for distributions under <a href=\"http:\/\/www.keytlaw.com\/azllclaw\/arizona-llc-statutes\/article-5\/ars-section-29-703\/\" target=\"_blank\">section 29-703<\/a> or <a href=\"http:\/\/www.keytlaw.com\/azllclaw\/arizona-llc-statutes\/article-5\/ars-section-29-707\/\" target=\"_blank\">29-707.<\/a><\/p>\n<p style=\"padding-left: 30px; text-align: justify;\">3. To the members in the manner provided in <a href=\"http:\/\/www.keytlaw.com\/azllclaw\/arizona-llc-statutes\/article-5\/ars-section-29-703\/\" target=\"_blank\">section 29-703, subsection B.<\/a><\/p>\n<p style=\"text-align: justify;\"><strong>Caution<\/strong>:\u00a0\u00a0The above language was taken from Arizona&#8217;s statutes on November 13, 2016.\u00a0 Check the Arizona legislature&#8217;s <a href=\"http:\/\/www.azleg.gov\/ars\/29\/00708.htm\" target=\"_blank\">website<\/a> to determine if this statute changed after November 13, 2016.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On the winding up of a limited liability company, its assets shall be applied and 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 other than liabilities for distributions to members and former members under section 29-703 or 29-707. 2. Except as provided in an operating agreement, to members and former members in satisfaction of liabilities for distributions under section 29-703 or 29-707. 3. To the members in the manner provided in section 29-703, subsection B. Caution:\u00a0\u00a0The above language was taken from Arizona&#8217;s statutes on November 13, 2016.\u00a0 Check the Arizona legislature&#8217;s website to determine if this statute changed after November 13, 2016.<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":393,"menu_order":0,"comment_status":"open","ping_status":"closed","template":"","meta":{"om_disable_all_campaigns":false,"footnotes":""},"class_list":["post-583","page","type-page","status-publish","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.7 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Arizona Revised Statutes Section 29-708<\/title>\n<meta name=\"description\" content=\"Arizona LLC Law: The actual text of Arizona Revised Statutes Section 29-708 Distribution On Winding Up\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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