A partner shall 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. (1985 (Reg. Sess., 1986), c. 989, s. 2.)
Sections: Previous 59-504 59-601 59-602 59-603 59-604 59-605 59-606 59-607 59-608 59-701 59-702 59-703 59-704 59-705 59-801 Next
Last modified: March 23, 2014