Home Table of Contents

§ 2025. Profits and losses; Distributions

Oklahoma Statutes AnnotatedTitle 18. Corporations

Oklahoma Statutes Annotated
Title 18. Corporations (Refs & Annos)
Chapter 32. Oklahoma Limited Liability Company Act (Refs & Annos)
18 Okl.St.Ann. § 2025
§ 2025. Profits and losses; Distributions
PROFITS AND LOSSES; DISTRIBUTIONS
Except as otherwise provided in the operating agreement:
1. The profits and losses of a limited liability company shall be allocated among the members, and among classes or groups of members, on the basis of the agreed value, as stated in the records of the limited liability company, of the contributions made by each member to the extent they have been received by the limited liability company and have not been returned; and
2. Distributions of the limited liability company shall be made to the members, and among classes or groups of members, in proportion to their right to share in the profits and losses of the limited liability company.

Credits

Laws 1992, c. 148, § 26, eff. Sept. 1, 1992; Laws 2004, c. 255, § 44, eff. Nov. 1, 2004; Laws 2017, c. 323, § 43, eff. Nov. 1, 2017.
18 Okl. St. Ann. § 2025, OK ST T. 18 § 2025
Current with legislation of the Second Regular Session of the 59th Legislature (2024). Some sections may be more current, see credits for details.
End of Document