15 Division of profits; impairment of capital
(1) Subject to subsection (2), a limited liability company may, from time to time, divide and allocate the profits and losses of its business among the members and among classes of the members of the company in accordance with the operating agreement.
(2) No distribution shall be made if, after such distribution, the assets of the limited liability company would not be in excess of all liabilities of the limited liability company except liabilities to members on account of their contributions.
(3) If the operating agreement does not so provide, profits and losses shall be allocated on the basis of the value of the contributions made by each member to the extent they have been received by the limited liability company and have not been returned.
(4) Subject to subsection (5), distributions of cash or other assets of a limited liability company shall be allocated among the members and among classes of members in the manner provided in the operating agreement.
(5) If the operating agreement does not so provide, distributions shall be made on the basis of the value of the contributions made by each member to the extent they have been received by the limited liability company and have not been returned.
(6) The provisions of this section relating to the allocation of losses shall not affect the limitation on liability of members under section 13.