The profits and losses, and each item thereof, of a limited liability company shall be allocated among the members in the manner provided in the articles of organization or in a written operating agreement. If the articles of organization or a written operating agreement does not so provide, profits and losses, and each item thereof, shall be allocated equally among the members.
History. Code 1981, § 14-11-403 , enacted by Ga. L. 1993, p. 123, § 1.
Structure Georgia Code
Title 14 - Corporations, Partnerships, and Associations
Chapter 11 - Limited Liability Companies
§ 14-11-401. Contributions to Capital
§ 14-11-402. Liability for Contribution
§ 14-11-403. Allocation of Profits and Losses
§ 14-11-405. Distributions Upon Event of Dissociation
§ 14-11-406. Distributions in Kind
§ 14-11-407. Restrictions on Making Distributions