Colorado § 7-80-503 - Sharing of profits and losses.
Full text of Colorado Colorado Revised Statutes § 7-80-503 — Sharing of profits and losses., with citation guidance and answers to common questions.
§ 7-80-503. Sharing of profits and losses.
The profits and losses of a limited liability company shall be allocated among the members and among classes of members on the basis of the value, as stated in the limited liability company records required to be kept pursuant to section 7-80-408, of the contributions made by each member.
Source: L. 90: Entire article added, p. 431, § 1, effective April 18. L. 94: Entire section amended, p. 717, § 19, effective July 1. L. 2004: Entire section amended, p. 942, § 9, effective July 1.
ANNOTATION
Law reviews. For article, "Allocation of LLC Profits and Losses and the Basic Economic Effect Test", see 40 Colo. Law. 45 (Apr. 2011).
Source: official Colorado text · Last verified 2026-08-27
Frequently Asked Questions About Colorado § 7-80-503
What does Colorado Revised Statutes § 7-80-503 cover?
Section 7-80-503 ("Sharing of profits and losses.") is part of the Colorado Revised Statutes, the codified statutory law of Colorado. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Colorado § 7-80-503?
A common citation format is "Colorado Revised Statutes § 7-80-503" (Colorado). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Colorado law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Colorado official source linked on this page or consult a licensed Colorado attorney.
How does Colorado § 7-80-503 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Colorado can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Colorado.