Alaska Statutes 10.50.290 – Repayment of contribution and sharing of profits and other assets
Current as of: 2023 | Check for updates
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Terms Used In Alaska Statutes 10.50.290
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
Subject to Alaska Stat. § 10.50.305 – 10.50.320, and unless otherwise provided in an operating agreement of the company, a member of a limited liability company shall be repaid the member’s contribution to capital and shares equally in the profits and other assets of the company remaining after all liabilities, including liabilities to members, are satisfied.