29-338

29-338. Liability on return of
contribution

A. If a partner has received the return of any part of his contribution without
violation of the partnership agreement or this chapter, he is liable to the limited
partnership for a period of one year thereafter for the amount of the returned
contribution, but only to the extent necessary to discharge the limited partnership's
liabilities to creditors who extended credit to the limited partnership during the period
the contribution was held by the partnership.

B. If a partner has received the return of any part of his contribution in
violation of the partnership agreement or this chapter, he is liable to the limited
partnership for a period of six years thereafter for the amount of the contribution
wrongfully returned.

C. A partner receives a return of his contribution to the extent that a
distribution to him reduces his share of the fair value of the net assets of the limited
partnership below the value as set forth in the partnership records required to be kept
pursuant to section 29-305 of his contribution which has not been distributed to him.