---
title: O.C.G.A. § 14-11-405. Distributions upon event of dissociation.
collection: code
id: 14-11-405
cite_as: O.C.G.A. § 14-11-405 (2025)
canonical_url: https://georgiacommons.org/code/14-11-405
md_url: https://georgiacommons.org/code/14-11-405.md
text_url: https://georgiacommons.org/code/14-11-405/text
source_url: https://www.legis.ga.gov/api/document/docs/default-source/joint-features-document-library/t14-(v12)-2017-pdf.pdf?sfvrsn=507372ea_0#page=1146
date: 2025
status: active
corpus_version: 2025-supplement-89aa39ab3c68
license: CC0-1.0
publisher: Georgia Commons, an independent project of Georgia Civic Data. Not the State of Georgia. Not legal advice.
up: https://georgiacommons.org/code/14-11.md
previous: https://georgiacommons.org/code/14-11-404.md
next: https://georgiacommons.org/code/14-11-406.md
index: https://georgiacommons.org/code/index.md
version: the only printed version
in_force: true
current_through: Including Acts of the 2025 Regular Session of the General Assembly
heading_path: CORPORATIONS, PARTNERSHIPS, AND ASSOCIATIONS / LIMITED LIABILITY COMPANIES / FINANCE
---

# O.C.G.A. § 14-11-405. Distributions upon event of dissociation.

(a) Effective for limited liability companies formed prior to July 1, 1999, except as otherwise provided in the articles of organization or a written operating agreement, and subject to Code Section 14-11-407, a member with respect to which an event of dissociation occurs (other than one of the events specified in paragraphs (1), (2), and (4) of subsection (b) of Code Section 14-11-601) is entitled to receive, within a reasonable time after the occurrence of the event, the fair value of the member’s interest in the limited liability company as of the date of such occurrence, but only if such event does not result in dissolution of the limited liability company.

(b) Effective for limited liability companies formed on or after July 1, 1999, except as otherwise provided in the articles of organization or a written operating agreement, a member with respect to which an event of dissociation occurs under Code Section 14-11-601.1 is not entitled to receive any payment by reason of such event and will become an assignee as to such limited liability company interest.

## History

Code 1981, § 14-11-405, enacted by Ga. L. 1993, p. 123, § 1; Ga. L. 1995, p. 470, § 18; Ga. L. 1999, p. 822, § 1; Ga. L. 2002, p. 1235, § 3.