Rhode Island General Laws

R.I. Gen. Laws § 7-16-26 (2026)

Sharing of profits and losses

✓ current as of July 2026

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Unless otherwise provided in the articles of organization or the operating agreement, the profits and losses of a limited liability company shall be allocated to each member on the basis of the member’s capital value.

Notes of Decisions

Cited in 1 case, 2020–2020 · leading case: Gardner v. Larkin (D.R.I. 2020).

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Gardner v. Larkin (D.R.I. 2020). · cites it 2× “04; see R.I. Gen. Laws § 7-16-26. The Gardners’ agreement to make Larkin a 50% member of CBWM was primarily to bring him into both Companies as a 50% owner to drive retail sales of CBWM products through the buildup of CBI.”

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