State Codes and Statutes

Statutes > Connecticut > Title34 > Chap610 > Sec34-24

      Sec. 34-24. Limitation on amount of 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.

      (1961, P.A. 79, S. 16; P.A. 79-440, S. 36.)

      History: P.A. 79-440 replaced previous provisions which had detailed procedure by which limited partner could receive part or all of his contributions.

      Cited. 11 CA 404.