Virginia Code

Va. Code Ann. § 13.1-1030 (2026)

Sharing of distributions

✓ current as of May 2026

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Distributions of cash or other assets of a limited liability company shall be allocated among the members, and among classes of members, on the basis provided in writing in the articles of organization or an operating agreement. If the articles of organization or an operating agreement do not so provide in writing, distributions shall be made on the basis of the value, as stated in the limited liability company records required to be kept pursuant to § 13.1-1028, of the contributions made by each member to the extent they have been received by the limited liability company.

1991, c. 168; 1995, c. 168; 1997, c. 190.

Notes of Decisions

Cited in 7 cases (3 in the last 5 years), 1996–2024 · leading case: In Re DeLuca, 194 B.R. 65 (Bankr. E.D. Va. 1996).

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In Re DeLuca, 194 B.R. 65 (Bankr. E.D. Va. 1996). “") [21] "`Membership interest' or `interest' means a member's share of the profits and the losses of the limited liability company and the right to receive distributions of the limited liability company's assets.”

In Re DeLuca, 194 B.R. 79 (Bankr. E.D. Va. 1996). “("Sharing of profits and losses") and § 13.1-1030, Va.Code Ann. ("Sharing of distributions").”

Broyhill v. DeLUCA (In re DeLUCA), 194 B.R. 65 (Bankr. E.D. Va. 1996). “" ‘Membership interest’ or ‘interest’ means a member’s share of the profits and the losses of the limited liability company and the right to receive distributions of the limited liability company's assets.”

JTB Enter., L.C. v. D & B Venture, L.C. (In re DeLUCA), 194 B.R. 79 (Bankr. E.D. Va. 1996). “("Sharing of profits and losses”) and § 13.1-1030, Va.Code Ann. ("Sharing of distributions”).”

Danial Selario, etc. v. Cynthia Sullivan (Va. Ct. App. 2024). “” Code § 13.1-1030. The articles of organization or operating agreement may entitle a member to interim distributions before the LLC winds up its business as long as those distributions comply with certain statutory restrictions.”

Danette Mertz v. Cynthia Sullivan (Va. Ct. App. 2024). “” Code § 13.1-1030. The articles of organization or operating agreement may entitle a member to interim distributions before the LLC winds up its business as long as those distributions comply with certain statutory restrictions.”

Cynthia Sullivan v. Danial Selario, as Adm'r of the Est. of Christopher Selario, e (Va. Ct. App. 2024). “” Code § 13.1-1030. The articles of organization or operating agreement may entitle a member to interim distributions before the LLC winds up its business as long as those distributions comply with certain statutory restrictions.”

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