N.J.S.A. 42:2A-45

Limitations on distribution

42:2A-45. Limitations on distribution Limitations on distribution. 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. L. 1983, c. 489, s. 44, eff. April 1, 1985.

External source: View on Justia →

This is the verbatim text of N.J.S.A. 42:2A-45, 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.

N.J.S.A. 42:2A-45 — Limitations on distribution | Kyzer