42:3-29 - Creditors paid pro rata;Ā disposition of balance
42:3-29.Ā Creditors paid pro rata;Ā disposition of balance
Receivers or trustees of a limited partnership association appointed under the provisions of this article shall pay ratably, as far as possible, out of the funds of the expired, dissolved or insolvent association, all the creditorsĀ of the association who shall prove their debts or claims as directed by theĀ court.Ā Any balance remaining after the payment of the debts of the associationĀ and the necessary expenses of administration shall be distributed among theĀ members of the association.
Ā
Receivers or trustees of a limited partnership association appointed under the provisions of this article shall pay ratably, as far as possible, out of the funds of the expired, dissolved or insolvent association, all the creditorsĀ of the association who shall prove their debts or claims as directed by theĀ court.Ā Any balance remaining after the payment of the debts of the associationĀ and the necessary expenses of administration shall be distributed among theĀ members of the association.
Ā