17-76,101. Allocation of profits and losses.
17-76,101
17-76,101. Allocation of profits and
losses.
The profits and losses of a limited liability company shall
be allocated among the
members, and among classes or groups of members, in the manner provided in an
operating agreement. If the operating agreement does not so provide, profits
and losses shall be allocated on
the basis of the agreed value (as stated in the records of the limited
liability company) of the
contributions made by each member to the extent they have been received by the
limited liability
company and have not been returned.
History: L. 1999, ch. 119, § 40; Jan. 1, 2000.