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§ 4a-906 — Maryland Law | CourtGPT
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  2. Laws/
  3. Maryland/
  4. Corporations and Associations/
  5. Title 4a - Limited Liability Company Act/
  6. Subtitle 9 - Dissolution, Forfeiture, and Reinstatement/
  7. § 4a-906
Maryland Legal Code

§ 4a-906

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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.