2009 North Carolina Code
Chapter 57C - North Carolina Limited Liability Company Act.
§ 57C-4-03. Allocation of income, gain, loss, deduction, or credit.
§ 57C‑4‑03. Allocation of income, gain, loss, deduction, or credit.
Income, gain, loss, deduction, or credit of a limited liability company shall be allocated among the members, and among classes of members, in the manner agreed to in an operating agreement. To the extent an operating agreement does not so provide for the allocation of such items, income, gain, loss, deduction, or credit shall be allocated among the members in proportion to the agreed value, as stated in the limited liability company records required to be kept pursuant to G.S. 57C‑3‑04(a)(5), of the contributions made by each member, taking into account variations in the capital contributions of each member during the period for which the allocations are made using any reasonable method selected by the managers. (1993, c. 354, s. 1.)
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