Section 503 - Sharing of profits and losses; distributions. - Maryland Statutes

§ 4A-503. Sharing of profits and losses; distributions.
 

Except as otherwise provided in the operating agreement: 

(1) The profits and losses of a limited liability company shall be allocated among the members in proportion to their respective capital interests; and 

(2) Distributions by the limited liability company shall be made to the members in proportion to their right to share in the profits of the limited liability company. 
 

[1992, ch. 536; 1997, ch. 659, § 2.]