Sharing of profits and losses

The items of profits, losses, deductions and credits of a limited liability company shall be allocated among the members and among classes of members in the manner provided in an operating agreement. If an operating agreement does not so provide, profits and credits shall be allocated among the members according to the manner in which they share in distributions that exceed the repayment of their capital contributions, and losses and deductions shall be allocated among the members according to the relative capital contributions that they have made or promised to make in the future.