The profits and losses of a limited liability company shall be allocated among the members in the manner provided in the articles of organization or an operating agreement. If neither the articles of organization nor an operating agreement provide for allocation, such profits and losses shall be allocated among the members in proportion to the value of their respective contributions to capital, adjusted to reflect all withdrawals from capital.
§ 53-19-22 NMSA 1978
Sharing of profits and losses
Known as the Limited Liability Company Act
The act spans §§ 53–53 (80 sections).
Laws 1993, ch. 280, § 22.
Official source: NMOneSource (New Mexico Compilation Commission). Reproduced from public-domain New Mexico statutes; confirm against the official source for the current text. Not legal advice.