Tennessee Code 48-220-101 – Sharing of profits and losses
Current as of: 2023 | Check for updates
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Terms Used In Tennessee Code 48-220-101
- LLC: means a limited liability company, organized under chapters 201-248 of this title. See Tennessee Code 48-202-101
- Operating agreement: means a written agreement described in §. See Tennessee Code 48-202-101
Unless otherwise provided in the articles or operating agreement, the profits and losses of an LLC must be allocated equally among the members.