O.C.G.A.
O.C.G.A. § 14-11-403 (2019)
Allocation of profits and losses
✓ O.C.G.A. — 2019 edition (Public.Resource.Org Release 73)
Code text and O.C.G.A. statutory annotations on this page reflect the 2019 Official Code of Georgia Annotated (Public.Resource.Org Release 73, 2019-08-21; public domain per Georgia v. Public.Resource.Org, 2020). The Syfert case-law annotations in Notes of Decisions, below, are current.
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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.)
Notes of Decisions
Cited in 1
case (1 in the last 5 years), 2021–2021 · leading case: Gordon, Chapter 7 Tr. for the Est. of John B v. Webster (Bankr. N.D. Ga. 2021).
Gordon, Chapter 7 Tr. for the Est. of John B v. Webster (Bankr. N.D. Ga. 2021). “O.C.G.A. §§ 14-11-403; 14-11-501. Judgment creditors of a member may obtain a charging order against the member’s interest in the limited liability company, gaining the rights of an assignee of such interest in the LLC.”
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