Kansas Statutes
§ 17-76,101 — Allocation of profits and losses
The profits and losses of a limited liability company shall be allocated among the members, and among classes or groups of members, in the manner provided in an operating agreement. If the operating agreement does not so provide, profits and losses shall 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 they have been received by the limited liability company and have not been returned.
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Legislative History
L. 1999, ch. 119, § 40; January 1, 2000.
Nearby Sections
15
§ 17-10a01
Building and loan associations and life insurance companies; authority as members and borrowers§ 17-10a02
Powers of members or borrowers§ 17-10a07
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