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<law><site_title>Virginia Decoded</site_title><site_url>https://vacode.org</site_url><law_id>73279</law_id><section_number>13.1-1030</section_number><catch_line>Sharing of distributions</catch_line><edition url="https://vacode.org/2025/" slug="2025" current="TRUE" last_updated="">2025</edition><structure><unit label="title" level="1" order_by="1" identifier="13.1">Corporations</unit><unit label="chapter" level="2" order_by="1" identifier="12">Virginia Limited Liability Company Act</unit><unit label="article" level="3" order_by="1" identifier="6">Finance</unit></structure><text>
						<section><p><span class="dictionary">Distributions</span> of cash or other <span class="dictionary">assets</span> of a <span class="dictionary">limited liability company</span> shall be allocated among the <span class="dictionary">members</span>, and among classes of <span class="dictionary">members</span>, on the basis provided in writing in the <span class="dictionary">articles of organization</span> or an <span class="dictionary">operating agreement</span>. If the <span class="dictionary">articles of organization</span> or an <span class="dictionary">operating agreement</span> do not so provide in writing, <span class="dictionary">distributions</span> shall be made on the basis of the value, as stated in the <span class="dictionary">limited liability company</span> records required to be kept pursuant to &#xA7;&#xA0;<a class="law" title="Information and records" href="/13.1-1028/">13.1-1028</a>, of the <span class="dictionary">contributions</span> made by each <span class="dictionary">member</span> to the extent they have been received by the <span class="dictionary">limited liability company</span>.</p></section></text><history>1991, c. 168; 1995, c. 168; 1997, c. 190.</history><metadata></metadata></law>
