Iowa Statutes
§ 488.502 — Liability for contribution
Iowa § 488.502
This text of Iowa § 488.502 (Liability for contribution) is published on Counsel Stack Legal Research, covering Iowa primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
Iowa Code § 488.502 (2026).
Text
1.A partner’s obligation to contribute money or other property or other benefit to, or to
perform services for, a limited partnership is not excused by the partner’s death, disability,
or other inability to perform personally.
2.If a partner does not make a promised nonmonetary contribution, the partner is
obligated at the option of the limited partnership to contribute money equal to that portion
of the value, as stated in the required information, of the stated contribution which has not
been made.
3.The obligation of a partner to make a contribution or return money or other property
paid or distributed in violation of this chapter may be compromised only by consent of all
partners. Acreditorofalimitedpartnershipwhichextendscreditorotherwiseactsinreliance
on an obligation described i
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Nearby Sections
15
§ 488.1001
Direct action by partner§ 488.1002
Derivative action§ 488.1003
Proper plaintiff§ 488.1004
Pleading§ 488.1005
Proceeds and expenses§ 488.101
Short title§ 488.102
Definitions§ 488.103
Knowledge and notice§ 488.105
Powers§ 488.106
Governing law§ 488.108
Name§ 488.109
Reservation of nameCite This Page — Counsel Stack
Bluebook (online)
Iowa § 488.502, Counsel Stack Legal Research, https://law.counselstack.com/statute/ia/488.502.