17-76,102. Allocation of distributions.
17-76,102
17-76,102. Allocation of distributions.
Distributions of cash or other assets 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,
distributions shall be made
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, § 41; Jan. 1, 2000.