§ 48-2c-1001. Allocation of current distributions.

Latest version.

Except as otherwise provided in the operating agreement, current distributions of profits and gains of a company shall be in the form of cash. Current distributions shall be allocated among the members in the manner provided in the operating agreement. If the operating agreement does not otherwise provide, current distributions shall be allocated among the members in proportion to the members' capital account balances as of the beginning of the company's current fiscal year.

Enacted by Chapter 260, 2001 General Session

                    
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