Tenn. Code § 48-220-101 : CORPORATIONS AND ASSOCIATIONS —LIMITED LIABILITY COMPANIES — SHARING OF PROFITS AND LOSSES —220-101 - Sharing of profits and losses TEXT PDF Unless otherwise provided in the articles or operating agreement, the profits and losses of an LLC must be allocated equally among the members. T.C.A. § 48-220-101 Acts 1994, ch. 868, § 1.