490A.803 - SHARING OF DISTRIBUTIONS.
490A.803 SHARING OF DISTRIBUTIONS. Distributions of cash or other assets of a limited liability company shall be allocated among the members, and among classes of members, in the manner provided in writing in the articles of organization or an operating agreement. If the articles of organization or an operating agreement do not so provide in writing, distributions shall be made on the basis of their respective capital contributions, as adjusted from time to time to reflect any additional contributions or withdrawals.
Section History: Recent Form 92 Acts, ch 1151, § 46 Referred to in § 490A.1304