Section 32.11.300. Limitations on distribution.

Latest version.

A partner may not receive a distribution from a limited partnership to the extent that, after giving effect to the distribution, all liabilities of the limited partnership, other than liabilities to partners on account of their partnership interests, exceed the fair value of the partnership assets.

Notes

History

(Sec. 1 ch 128 SLA 1992; am Sec. 25 ch 12 SLA 2006)

                    
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