Indiana Statutes
§ 23-16-7-7 — Limitations on distribution
Indiana·Title 23 BUSINESS AND OTHER ASSOCIATIONS·Art. 16 LIMITED PARTNERSHIPS·Ch. 7 Distributions and Withdrawals
A partner may not receive a distribution from
a limited partnership to the extent that at the time of the distribution,
after giving effect to the distribution, all liabilities of the limited
partnership, other than liabilities to partners on account of their
partnership interests, would exceed the fair value of the partnership
assets.
Free access — add to your briefcase to read the full text and ask questions with AI
Indiana § 23-16-7-7 (Limitations on distribution) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
As added by P.L.147-1988, SEC.1.
Nearby Sections
15
§ 23-0.5-1-1
Short title§ 23-0.5-1-2
Application§ 23-0.5-1-3
Application; exceptions§ 23-0.5-1-4
Delivery of record§ 23-0.5-1-5
Rules and procedures§ 23-0.5-1-6
Terms dependent on facts ascertainable outside the plan or filed
document; articles of amendment§ 23-0.5-1.5-1
Application of definitions§ 23-0.5-1.5-10
"Filed record"§ 23-0.5-1.5-11
"Filing entity"§ 23-0.5-1.5-12
"Foreign"§ 23-0.5-1.5-13
"General partnership"§ 23-0.5-1.5-14
"Governance interest"§ 23-0.5-1.5-15
"Governing person"§ 23-0.5-1.5-16
"Interest"§ 23-0.5-1.5-17
"Interest holder"