Connecticut Statutes
§ 34-24 — Limitation on amount of distribution.
Connecticut·Title 34 Limited Partnerships, Partnerships, Professional Associations, Limited Liability Companies and Statutory Trusts·Ch. 610 Uniform Limited Partnership Act
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.
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Related
Pappas v. Arfaras
20 F. Supp. 2d 372 (D. Connecticut, 1998)
Legislative History
(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.
Nearby Sections
15
§ 34-10a
Execution of certificates.§ 34-10b
Filing requirements.§ 34-10c
Notice.§ 34-13
Name.§ 34-13a
Reservation of name.§ 34-13c
Records to be kept.§ 34-13e
Annual report.