Guam § 15123 - Distribution of Assets Upon Dissolution.

§ 15123. Distribution of Assets Upon Dissolution.

(a) In settling accounts after dissolution, the liabilities of the

limited liability company shall be entitled to payment in the

following order:

(1) Those liabilities to creditors, in the order of priority

as provided by law, except those liabilities to members of

the limited liability company on account of their contribu-

tions;

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(2) Those liabilities to members of the limited liability

company in respect of their shares of the profits and other

compensation by way of income on their contributions; and

(3) Those liabilities to members of the limited liability

company in respect of their contributions to capital.

(b) Subject to any statement in the regulations, members

shall share in the limited liability company assets in respect to

their claims for capital and in respect to their claims for profits or

for compensation by way of income on their contributions,

respectively, in proportion to the respective amounts of the

claims.