A. Each partner is deemed to have an account that is:
1. Credited with an amount equal to the money plus the value of any otherproperty, net of the amount of any liabilities, the partner contributes tothe partnership and the partner's share of the partnership profits; and
2. Charged with an amount equal to the money plus the value of any otherproperty, net of the amount of any liabilities, distributed by thepartnership to the partner and the partner's share of the partnership losses.
B. Each partner is entitled to an equal share of the partnership profits andis chargeable with a share of the partnership losses in proportion to thepartner's share of the profits.
C. A partnership shall reimburse a partner for payments made and indemnify apartner for liabilities incurred by the partner in the ordinary course of thebusiness of the partnership or for the preservation of its business orproperty; however, no person shall be required as a consequence of theindemnification to make any payment to the extent that the payment would beinconsistent with subsections B and C of § 50-73.96.
D. A partnership shall reimburse a partner for an advance to the partnershipbeyond the amount of capital the partner agreed to contribute.
E. A payment or advance made by a partner which gives rise to a partnershipobligation under subsections C or D constitutes a loan to the partnershipwhich accrues interest from the date of the payment or advance.
F. Each partner has equal rights in the management and conduct of thepartnership business.
G. A partner may use or possess partnership property only on behalf of thepartnership.
H. A partner is not entitled to remuneration for services performed for thepartnership, except for reasonable compensation for services rendered inwinding up the business of the partnership.
I. A person may become a partner only with the consent of all of the partners.
J. A difference arising as to a matter in the ordinary course of business ofa partnership may be decided by a majority of the partners. An act outsidethe ordinary course of business of a partnership and an amendment to thepartnership agreement may be undertaken only with the consent of all of thepartners.
K. This section does not affect the obligations of a partnership to otherpersons under § 50-73.91.
A. Each partner is deemed to have an account that is:
1. Credited with an amount equal to the money plus the value of any otherproperty, net of the amount of any liabilities, the partner contributes tothe partnership and the partner's share of the partnership profits; and
2. Charged with an amount equal to the money plus the value of any otherproperty, net of the amount of any liabilities, distributed by thepartnership to the partner and the partner's share of the partnership losses.
B. Each partner is entitled to an equal share of the partnership profits andis chargeable with a share of the partnership losses in proportion to thepartner's share of the profits.
C. A partnership shall reimburse a partner for payments made and indemnify apartner for liabilities incurred by the partner in the ordinary course of thebusiness of the partnership or for the preservation of its business orproperty; however, no person shall be required as a consequence of theindemnification to make any payment to the extent that the payment would beinconsistent with subsections B and C of § 50-73.96.
D. A partnership shall reimburse a partner for an advance to the partnershipbeyond the amount of capital the partner agreed to contribute.
E. A payment or advance made by a partner which gives rise to a partnershipobligation under subsections C or D constitutes a loan to the partnershipwhich accrues interest from the date of the payment or advance.
F. Each partner has equal rights in the management and conduct of thepartnership business.
G. A partner may use or possess partnership property only on behalf of thepartnership.
H. A partner is not entitled to remuneration for services performed for thepartnership, except for reasonable compensation for services rendered inwinding up the business of the partnership.
I. A person may become a partner only with the consent of all of the partners.
J. A difference arising as to a matter in the ordinary course of business ofa partnership may be decided by a majority of the partners. An act outsidethe ordinary course of business of a partnership and an amendment to thepartnership agreement may be undertaken only with the consent of all of thepartners.
K. This section does not affect the obligations of a partnership to otherpersons under § 50-73.91.
A. Each partner is deemed to have an account that is:
1. Credited with an amount equal to the money plus the value of any otherproperty, net of the amount of any liabilities, the partner contributes tothe partnership and the partner's share of the partnership profits; and
2. Charged with an amount equal to the money plus the value of any otherproperty, net of the amount of any liabilities, distributed by thepartnership to the partner and the partner's share of the partnership losses.
B. Each partner is entitled to an equal share of the partnership profits andis chargeable with a share of the partnership losses in proportion to thepartner's share of the profits.
C. A partnership shall reimburse a partner for payments made and indemnify apartner for liabilities incurred by the partner in the ordinary course of thebusiness of the partnership or for the preservation of its business orproperty; however, no person shall be required as a consequence of theindemnification to make any payment to the extent that the payment would beinconsistent with subsections B and C of § 50-73.96.
D. A partnership shall reimburse a partner for an advance to the partnershipbeyond the amount of capital the partner agreed to contribute.
E. A payment or advance made by a partner which gives rise to a partnershipobligation under subsections C or D constitutes a loan to the partnershipwhich accrues interest from the date of the payment or advance.
F. Each partner has equal rights in the management and conduct of thepartnership business.
G. A partner may use or possess partnership property only on behalf of thepartnership.
H. A partner is not entitled to remuneration for services performed for thepartnership, except for reasonable compensation for services rendered inwinding up the business of the partnership.
I. A person may become a partner only with the consent of all of the partners.
J. A difference arising as to a matter in the ordinary course of business ofa partnership may be decided by a majority of the partners. An act outsidethe ordinary course of business of a partnership and an amendment to thepartnership agreement may be undertaken only with the consent of all of thepartners.
K. This section does not affect the obligations of a partnership to otherpersons under § 50-73.91.
