Sec. 34-152. Sharing of profits and losses. - Connecticut Statutes

      Sec. 34-152. Sharing of profits and losses. The profits and losses of a limited liability company shall be allocated among the members, and among classes of members, in the manner agreed to in the operating agreement. To the extent the operating agreement does not so provide, profits and losses shall be allocated on the basis of the value of the contributions made by each member to the extent they have been received by the limited liability company and have not been returned.

      (P.A. 93-267, S. 28; P.A. 94-217, S. 14.)

      History: P.A. 94-217 deleted provision that the value of a member's contributions was the value "as stated in the limited liability company's records required to be kept pursuant to section 34-127", reflecting the deletion of said requirement in Sec. 34-127 by the same public act.