Maryland Corporations and Associations Section 4A-906

      On the winding up and termination of a limited liability company, the assets shall be distributed as follows:

            (1)      To creditors, including members who are creditors, to the extent permitted by law, in satisfaction of the liabilities of the limited liability company; and

            (2)      Unless otherwise provided by the operating agreement, to the members in proportion to their respective capital interests, after the capital interests are adjusted by:

                  (i)      Adding to the members' capital interests their respective shares of the profits of the limited liability company; and

                  (ii)      Deducting from the members' capital interests their respective shares of the losses of the limited liability company and all distributions previously received by the members.