CODE OF VIRGINIA

SHARING OF DISTRIBUTIONS (§ 13.1-1030)

Distributions of cash or other assets of a limited liability company shall be
allocated among the members, and among classes of members, on the basis provided
in writing in the articles of organization or an operating agreement. If the
articles of organization or an operating agreement do not so provide in writing,
distributions shall be made on the basis of the value, as stated in the limited
liability company records required to be kept pursuant to § 13.1-1028, of the
contributions made by each member to the extent they have been received by the
limited liability company.

HISTORY: 1991, c. 168; 1995, c. 168; 1997, c. 190.