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2012 Kansas Statutes
Chapter 17 CORPORATIONS
Article 76 LIMITED LIABILITY COMPANIES
Section 17-76-101 Allocation of profits and losses.


KS Stat § 17-76-101 (2012) What's This?

17-76,101. Allocation of profits and losses. The profits and losses of a limited liability company shall be allocated among the members, and among classes or groups of members, in the manner provided in an operating agreement. If the operating agreement does not so provide, profits and losses shall be allocated on the basis of the agreed value (as stated in the records of the limited liability company) of the contributions made by each member to the extent they have been received by the limited liability company and have not been returned.

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