Allocation of profits and losses.
The profits and losses of a limited liability company shall be allocated among the members in the manner provided in an operating agreement. If the members do not enter into an operating agreement or the operating agreement does not so provide, profits and losses shall be allocated on the basis of value, as stated in the records required to be kept under s. 183.0405 (1)
, of the contributions made by each member.
History: 1993 a. 112
Chs. 178-226, Partnerships and Corporations; Transportation; Utilities; Banks; Savings Associations