New York Statutes
§ 504 — Sharing of distributions
New York § 504
This text of New York § 504 (Sharing of distributions) is published on Counsel Stack Legal Research, covering New York primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
N.Y. Limited Liability Company Law § 504 (2026).
Text
§ 504. Sharing of distributions. Distributions of cash or other assets\nof a limited liability company shall be allocated among the members, and\namong classes of members, if any, in the manner provided in the\noperating agreement, which may, among other things, establish record\ndates for distributions. If the operating agreement does not so provide,\ndistributions shall be allocated on the basis of the value, as stated in\nthe records of the limited liability company, if so stated, of the\ncontributions of each member, but not including defaulted obligations to\nmake contributions, to the extent they have been received by or promised\nto the limited liability company and have not been returned to any such\nmember.\n
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Bluebook (online)
New York § 504, Counsel Stack Legal Research, https://law.counselstack.com/statute/ny/LLC/504.