Sec. 101.201. ALLOCATION OF PROFITS AND LOSSES. The profits and losses of a limited liability company shall be allocated to each member of the company on the basis of the agreed value of the contributions made by each member, as stated in the company's records required under Section 101.501.
Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.
Amended by:
Acts 2005, 79th Leg., Ch. 64 (H.B. 1319), Sec. 73, eff. January 1, 2006.
Structure Texas Statutes
Title 3 - Limited Liability Companies
Chapter 101 - Limited Liability Companies
Subchapter E. Allocations and Distributions
Section 101.201. Allocation of Profits and Losses
Section 101.202. Distribution in Kind
Section 101.203. Sharing of Distributions
Section 101.204. Interim Distributions
Section 101.205. Distribution on Withdrawal
Section 101.206. Prohibited Distribution; Duty to Return
Section 101.207. Creditor Status With Respect to Distribution