Texas Statutes (Last Updated: January 4, 2014) |
BUSINESS ORGANIZATIONS CODE |
Title 3. LIMITED LIABILITY COMPANIES |
Chapter 101. LIMITED LIABILITY COMPANIES |
Subchapter E. ALLOCATIONS AND DISTRIBUTIONS |
Sec. 101.201. ALLOCATION OF PROFITS AND LOSSES
Latest version.
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The profits and losses of a limited liability company shall be allocated to each member of the company on the basis of the agreed value of the contributions made by each member, as stated in the company's records required under Section 101.501.
Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006. Amended by: Acts 2005, 79th Leg., Ch. 64 , Sec. 73, eff. January 1, 2006.