Unless otherwise provided in or through the articles or operating agreement, distributions of cash or other assets of an LLC, including distributions on termination of the LLC except as provided in § 48-245-1101, must be allocated equally among the members.
Tenn. Code Ann. § 48-236-101
Sharing of distributions
Applied in 1 court decision — leading case Thompson v. Davis (2009)
Most recently applied in Thompson v. Davis (September 2009)
Acts 1994, ch. 868, § 1.
Current official text: Tennessee Code (LexisNexis). Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Tennessee statutes; confirm against the official source for the current text. Not legal advice.