State Codes and Statutes

Statutes > New-york > Llc > Article-5 > 504

§ 504. Sharing of distributions. Distributions of cash or other assets  of a limited liability company shall be allocated among the members, and  among  classes  of  members,  if  any,  in  the  manner  provided in the  operating agreement, which may, among  other  things,  establish  record  dates for distributions. If the operating agreement does not so provide,  distributions shall be allocated on the basis of the value, as stated in  the  records  of  the  limited  liability  company, if so stated, of the  contributions of each member, but not including defaulted obligations to  make contributions, to the extent they have been received by or promised  to the limited liability company and have not been returned to any  such  member.

State Codes and Statutes

Statutes > New-york > Llc > Article-5 > 504

§ 504. Sharing of distributions. Distributions of cash or other assets  of a limited liability company shall be allocated among the members, and  among  classes  of  members,  if  any,  in  the  manner  provided in the  operating agreement, which may, among  other  things,  establish  record  dates for distributions. If the operating agreement does not so provide,  distributions shall be allocated on the basis of the value, as stated in  the  records  of  the  limited  liability  company, if so stated, of the  contributions of each member, but not including defaulted obligations to  make contributions, to the extent they have been received by or promised  to the limited liability company and have not been returned to any  such  member.

State Codes and Statutes

State Codes and Statutes

Statutes > New-york > Llc > Article-5 > 504

§ 504. Sharing of distributions. Distributions of cash or other assets  of a limited liability company shall be allocated among the members, and  among  classes  of  members,  if  any,  in  the  manner  provided in the  operating agreement, which may, among  other  things,  establish  record  dates for distributions. If the operating agreement does not so provide,  distributions shall be allocated on the basis of the value, as stated in  the  records  of  the  limited  liability  company, if so stated, of the  contributions of each member, but not including defaulted obligations to  make contributions, to the extent they have been received by or promised  to the limited liability company and have not been returned to any  such  member.