Ky. Rev. Stat. § 275.205
Current through Acts Received April 18, 2024
Profits and losses of a limited liability company shall be allocated among the members and among classes of members in the manner provided in the operating agreement. If a written operating agreement does not otherwise provide, profits and losses shall be allocated on the basis of the agreed value, as stated in the records of the limited liability company as required by KRS 275.185, of the contributions made by each member to the extent they have been received by the limited liability company and have not been returned.
KRS 275.205
Amended 1998, Ky. Acts ch. 341, sec. 31, effective7/15/1998. -- Created 1994 Ky. Acts ch. 389, sec. 41, effective 7/15/1994.