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2019 Indiana Code
Title 23. Business and Other Associations
Article 18. Limited Liability Companies
Chapter 5. Finance
23-18-5-3. Allocation of profits and losses
Universal Citation:
IN Code § 23-18-5-3 (2019)
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IC 23-18-5-3 Allocation of profits and losses
Sec. 3. Unless otherwise provided in the operating agreement, profits and losses must 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 the contributions have been received by the limited liability company and not previously returned.
As added by P.L.8-1993, SEC.301.
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