§ 4A–906
Statutes in effect as of October 1, 2026.
Md. Code Ann., Corps. & Ass'ns § 4A-906 (2026)
Title 4A. Limited Liability Company Act
Subtitle 9. Dissolution, Forfeiture, and Reinstatement
§ 4A–906LinkCopy Citation
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.