Sec. 3. Unless otherwise provided in the operating agreement, profits and losses must be allocated on the basis of the agreed value, as stated in the records of the limited liability company, of the contributions made by each member to the extent the contributions have been received by the limited liability company and not previously returned.
As added by P.L.8-1993, SEC.301.
Structure Indiana Code
Title 23. Business and Other Associations
Article 18. Limited Liability Companies
23-18-5-1. Promises to Contribute Property or Services; Enforceability
23-18-5-3. Allocation of Profits and Losses
23-18-5-4. Shared Distributions of Cash or Other Assets
23-18-5-5. Dissociation; Companies Existing on or Before June 30, 1999
23-18-5-5.1. Dissociation; Companies Formed After June 30, 1999
23-18-5-7. Unlawful Distributions; Liability
23-18-5-8. Distributions in Kind
23-18-5-9. Status of Member Entitled to Receive Distribution