Kansas Statutes
§ 56a-1003 — Distributions; limitations
A partner may not receive a distribution from a limited liability partnership to the extent that, after giving effect to the distribution, all liabilities of the limited liability partnership, other than liabilities to partners on account of their partnership interests, exceed the fair value of the partnership assets.
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Legislative History
L. 1998, ch. 93, § 63; January 1, 1999.
Nearby Sections
15
§ 56a-1001
Statement of qualification§ 56a-1003
Distributions; limitations§ 56a-1004
Return of contribution; liability§ 56a-101
Definitions§ 56a-102
Knowledge and notice§ 56a-104
Supplemental principles of law§ 56a-106
Governing law§ 56a-1103
Effect of failure to qualify§ 56a-1201
Domestic limited liability partnerships; business entity information report; contents; report fee