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O.C.G.A. § 14-11-403 — Allocation of profits and losses | Georgia Code

O.C.G.A. § 14-11-403 (2018) Copy Cite Official Site Syfertize CourtListener Scholar Amendments

TITLE 14 CORPORATIONS, PARTNERSHIPS, AND ASSOCIATIONS

Section 11. Limited Liability Companies, 14-11-100 through 14-11-1109.

ARTICLE 4 FINANCE

14-11-403. Allocation of profits and losses.

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.

(Code 1981, §14-11-403, enacted by Ga. L. 1993, p. 123, § 1.)

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This Georgia Code resource is curated by Georgia Bar member Graham W. Syfert, a personal injury and workers' compensation attorney admitted in Georgia (State Bar of Georgia No. 881027, since 2006) and Florida. For legal consultation, call 904-383-7448.