N.J.S.A. 42:2A-38 — Sharing of distributions

42:2A-38. Sharing of distributions Sharing of distributions. Distributions of cash or other assets of a limited partnership shall be allocated among the partners, and among classes of partners, in the manner provided in the partnership agreement. If the partnership agreement does not so provide, distributions shall be made on the basis of the value (as stated in the limited partnership agreement) of the contributions made by each partner to the extent they have been received by the partnership and have not been returned. L. 1983, c. 489, s. 37; amended 1988,c.130,s.21.

This is the verbatim text of N.J.S.A. 42:2A-38, retrieved from the New Jersey Legislature's public statute corpus. Statutes are amended periodically — for the most current version, check the external source link above. Kyzer is not a law firm and this page is not legal advice.