Kansas § 56-1a303 Allocation of profits and losses

Kansas Statutes

§ 56-1a303 — Allocation of profits and losses

Kansas § 56-1a303

Ch. 56PARTNERSHIPS

Art. 1aREVISED UNIFORM LIMITED PARTNERSHIP ACT

This text of Kansas § 56-1a303 (Allocation of profits and losses) is published on Counsel Stack Legal Research, covering Kansas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Kan. Stat. Ann. § 56-1a303 (2026).

Text

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.

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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.