State Codes and Statutes
Statutes > Mississippi > Title-79 > 29 > 79-29-504§ 79-29-504. Sharing of distributions.
Distributions of cash or other assets of a limited liability company must be allocated among the members, and among classes of members, in the manner provided in the certificate of formation or limited liability company agreement. If the certificate of formation or limited liability company agreement does not so provide distributions must be made on the basis of the value, as stated in the limited liability company records required to be kept pursuant to Section 79-29-107, of the contributions made by each member to the extent they have been received by the limited liability company and have not been returned.
Sources: Laws, 1994, ch. 402, § 36, eff from and after July 1, 1994.
