§ 13.1-1030. 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, on the basis provided in writing in the articles of organization or an operating agreement. If the articles of organization or an operating agreement do not so provide in writing, distributions shall be made on the basis of the value, as stated in the limited liability company records required to be kept pursuant to § 13.1-1028, of the contributions made by each member to the extent they have been received by the limited liability company.
(1991, c. 168; 1995, c. 168; 1997, c. 190.)
Sections: Previous 13.1-1024 13.1-1024.1 13.1-1025 13.1-1026 13.1-1027 13.1-1028 13.1-1029 13.1-1030 13.1-1031 13.1-1032 13.1-1033 13.1-1034 13.1-1035 13.1-1036 13.1-1037 NextLast modified: April 16, 2009