The Vermont Statutes Online
The Statutes below include the actions of the 2025 session of the General Assembly.
NOTE: The Vermont Statutes Online is an unofficial copy of the Vermont Statutes Annotated that is provided as a convenience.
Subchapter
007
:
WINDING UP OF COMPANY BUSINESS
(Cite as: 11 V.S.A. § 4106)
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§ 4106. Distribution of assets in winding up limited liability company’s business
(a) In winding up a limited liability company’s business, the assets of the company shall
be applied to discharge its obligations to creditors, including members who are creditors.
Any surplus shall be applied to pay in money the net amount distributable to members
in accordance with their right to distributions under subsection (b) of this section.
(b) Each member is entitled to a distribution upon the winding up of the limited liability
company’s business consisting of a return of all contributions which have not previously
been returned and a distribution of any remainder in proportion to each member’s capital
contributions. (Added 2015, No. 17, § 2.)