§ 25.10.470. Distribution of assets
Upon the winding up of a limited partnership, the assets shall be distributed as follows:
(1) To creditors, including partners who are creditors, to the extent otherwise permitted by law, in satisfaction of liabilities of the limited partnership other than liabilities for distribution to partners under RCW 25.10.310 or 25.10.340;
(2) Except as provided in the partnership agreement, to partners and former partners in satisfaction of liabilities for distributions under RCW 25.10.310 or 25.10.340; and
(3) Except as provided in the partnership agreement, to partners first for the return of their contributions and secondly respecting their partnership interests, in the proportions in which the partners share in distributions.
[1981 c 51 § 47.]
Sections: Previous 25.10.430 25.10.440 25.10.450 25.10.453 25.10.455 25.10.457 25.10.460 25.10.470 25.10.480 25.10.490 25.10.500 25.10.510 25.10.520 25.10.530 25.10.540 NextLast modified: April 7, 2009