2011 Arizona Revised Statutes
Title 29 Partnership
29-709 Sharing of profits and losses
29-709. Sharing of profits and losses
The profits and losses of a limited liability company shall be allocated among the members and among classes of members in the manner provided in an operating agreement. If an operating agreement does not so provide, profits shall be allocated among the members according to the manner in which they share in distributions that exceed the repayment of their capital contributions, and losses shall be allocated among the members according to the relative capital contributions that they have made or promised to make in the future.
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