State Codes and Statutes
Statutes > Maryland > Corporations-and-associations > Title-4a > Subtitle-5 > 503§ 4A-503. Sharing of profits and losses; distributions.
Except as otherwise provided in the operating agreement:
(1) The profits and losses of a limited liability company shall be allocated among the members in proportion to their respective capital interests; and
(2) Distributions by the limited liability company shall be made to the members in proportion to their right to share in the profits of the limited liability company.
[1992, ch. 536; 1997, ch. 659, § 2.]
