1. In winding up its activities and affairs, a limited liabilitycompany shall apply itsassets to discharge the company’s obligations to creditors, including members that are creditors. 2. After a limited liability company complies with subsection 1, any surplus must be distributed in the following order, subject to any charging order in effect under section 489.503: a. To each person owning a transferable interest that reflects contributions made and not previously returned, an amount equal to the value of the unreturned contributions. b. Among persons owning transferable interests in proportion to their respective rights to share in distributions immediately before the dissolution of the limited liabilitycompany. 3. Ifa limited liability company does not have sufficientsurplus to comply with subsection 2,paragraph “a”, any surplus must be distributed among the owners of transferable interests in proportion to the value of the respective unreturned contributions. 4. All distributions made under subsections 2 and 3 must be paid in money. C2009, §489.708 C2024, §489.707
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