Georgia Statutes
§ 14-9a-124 — Repayment of contribution of special partner prohibited; payment of interest and profits to special partner
Georgia·Title 14
(a)No part of the sum which any special partner shall have contributed to the capital stock shall be withdrawn by him or paid or transferred to him in the shape of dividends, profits, or otherwise at any time during the continuance of the partnership, but any partner may annually receive lawful interest on the sum so contributed by him, if the payment of such interest shall not reduce the original amount of such capital. If, after the payment of such interest, any profits shall remain to be divided, he may also receive his portion of such profits, but shall not be liable for any debts previously contracted by the general partners.
(b)If it shall appear that, by the payment of interest or profits to any special partner, the original capital has been reduced, or the firm shall be unable to
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Georgia § 14-9a-124 (Repayment of contribution of special partner prohibited; payment of interest and profits to special partner) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Nearby Sections
15
§ 14-10-1
Short title§ 14-10-10
Ownership§ 14-10-17
Actions by or against associations§ 14-10-2
Definitions§ 14-10-3
Persons entitled to form association; purpose; limitation to one type of professional service§ 14-10-4
Formation