§ 57C-4-03. Allocation of income, gain, loss, deduction, or credit. - North Carolina Statutes

§57C‑4‑03.  Allocation of income, gain, loss, deduction, or credit.

Income, gain, loss, deduction,or credit of a limited liability company shall be allocated among the members,and among classes of members, in the manner agreed to in an operating agreement. To the extent an operating agreement does not so provide for the allocation ofsuch items, income, gain, loss, deduction, or credit shall be allocated amongthe members in proportion to the agreed value, as stated in the limitedliability company records required to be kept pursuant to G.S. 57C‑3‑04(a)(5),of the contributions made by each member, taking into account variations in thecapital contributions of each member during the period for which theallocations are made using any reasonable method selected by the managers. (1993,c. 354, s. 1.)