2021 Maryland Statutes
Corporations and Associations
Title 4A - Limited Liability Company Act
Subtitle 9 - Dissolution, Forfeiture, and Reinstatement
Section 4A-906 - Distribution of Assets
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 agreed, to the members in proportion to their respective capital contribution values, after the capital contribution values are adjusted by:
(i) Adding to the members’ capital contribution values their respective shares of the profits of the limited liability company; and
(ii) Deducting from the members’ capital contribution values their respective shares of the losses of the limited liability company and all distributions previously received by the members.