North Dakota Code 10-32.1-30.1 – Sharing of profits and loss
Current as of: 2023 | Check for updates
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Unless otherwise provided in the articles of organization, or in an operating agreement, the profits and losses of a limited liability company created after July 31, 2017, must be allocated among the members and among classes and series of members in proportion to the value of the contributions of the members.
Terms Used In North Dakota Code 10-32.1-30.1
- Organization: includes a foreign or domestic association, business trust, corporation, enterprise, estate, joint venture, limited liability company, limited liability partnership, limited partnership, partnership, trust, or any legal or commercial entity. See North Dakota Code 1-01-49