Kansas Statutes
§ 56-1a303 — Allocation of profits and losses
The profits and losses of a limited partnership shall be allocated among the partners, and among classes of partners, in the manner provided in the partnership agreement. If the partnership agreement does not provide for the allocation, profits and losses shall be allocated on the basis of the value, as stated in the records of the limited partnership, of the contributions made by each partner to the extent they have been received by the partnership and have not been returned.
Free access — add to your briefcase to read the full text and ask questions with AI
Kansas § 56-1a303 (Allocation of profits and losses) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
L. 1983, ch. 88, § 30; L. 1988, ch. 195, § 13; July 1.
Nearby Sections
15
§ 56-1a01
Title of act§ 56-1a101
Definitions§ 56-1a106
Nature of business§ 56-1a151
Certificate of limited partnership§ 56-1a152
Amendment to certificate of limited partnership by certificate of amendment or judicial decree§ 56-1a153
Cancellation of certificate§ 56-1a158
Notice of limited partnership§ 56-1a201
Admission of additional limited partners