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§1362.__Liability for contribution |
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| | 1.__Obligation not excused by death, disability or other | inability.__A partner's obligation to contribute money or other | property or other benefit to, or to perform services for, a | limited partnership is not excused by the partner's death, | disability or other inability to perform personally. |
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| | 2.__Obligation to contribute money equal to promised | nonmonetary contribution.__If a partner does not make a promised | nonmonetary contribution, the partner is obligated at the option | of the limited partnership to contribute money equal to that | portion of the value, as stated in the required information, of | the stated contribution that has not been made. |
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| | 3.__Obligation in violation of chapter; enforcement by | creditor.__The obligation of a partner to make a contribution or | return money or other property paid or distributed in violation | of this chapter may be compromised only by consent of all | partners. A creditor of a limited partnership that extends credit | or otherwise acts in reliance on an obligation described in | subsection 1, without notice of any compromise under this | subsection, may enforce the original obligation. |
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| §1363.__Sharing of distributions |
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| | A distribution by a limited partnership must be shared among | the partners on the basis of the value, as stated in the required | records when the limited partnership decides to make the | distribution, of the contributions the limited partnership has | received from each partner. |
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| §1364.__Interim distributions |
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| | A partner does not have a right to any distribution before the | dissolution and winding up of the limited partnership unless the | limited partnership decides to make an interim distribution. |
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| §1365.__No distribution on account of dissociation |
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| | A person does not have a right to receive a distribution on | account of dissociation. |
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| §1366.__Distribution in kind |
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| | A partner does not have a right to demand or receive any | distribution from a limited partnership in any form other than | cash. Subject to section 1402, subsection 2, a limited | partnership may distribute an asset in kind to the extent each |
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