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Maryland Code, Corporations and Associations § 4A-906

Current as of January 01, 2025 | Updated by Findlaw Staff

On the winding up and termination of a limited liability company, the assets shall be distributed as follows:

(1) To creditors, including members who are creditors, to the extent permitted by law, in satisfaction of the liabilities of the limited liability company; and

(2) Unless otherwise agreed, to the members in proportion to their respective capital contribution values, after the capital contribution values are adjusted by:

(i) Adding to the members' capital contribution values their respective shares of the profits of the limited liability company; and

(ii) Deducting from the members' capital contribution values their respective shares of the losses of the limited liability company and all distributions previously received by the members.

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Cite this article: FindLaw.com - Maryland Code, Corporations and Associations § 4A-906 - last updated January 01, 2025 | https://codes.findlaw.com/md/corporations-and-associations/md-code-corp-and-assns-sect-4a-906/

FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.

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