42:3-13 - Division of profits of business
42:3-13.Ā Division of profits of business
A limited partnership association may, from time to time, divide the profitsĀ of its business in such manner and in such an amount as a majority of itsĀ managers may determine, which profits so divided shall not at the time diminishĀ or impair the capital of the association.Ā Any one consenting to a dividendĀ which shall diminish or impair the capital shall be liable to any personĀ interested or injured thereby to the amount of such diminution or impairment.
A limited partnership association may, from time to time, divide the profitsĀ of its business in such manner and in such an amount as a majority of itsĀ managers may determine, which profits so divided shall not at the time diminishĀ or impair the capital of the association.Ā Any one consenting to a dividendĀ which shall diminish or impair the capital shall be liable to any personĀ interested or injured thereby to the amount of such diminution or impairment.
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