North Carolina Statutes
§ 59-607 — Limitations on distribution
North Carolina § 59-607
This text of North Carolina § 59-607 (Limitations on distribution) is published on Counsel Stack Legal Research, covering North Carolina primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
N.C. Gen. Stat. § 59-607 (2026).
Text
A partner shall not receive a distribution from a limited partnership to the extent that, after giving effect to the distribution, all liabilities of the limited partnership, other than liabilities to partners on account of their partnership interests, exceed the fair value of the partnership assets. (1985 (Reg. Sess., 1986), c. 989, s. 2.)
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Nearby Sections
15
§ 59-1001
Right of action§ 59-1002
Proper plaintiff§ 59-1003
Pleading§ 59-1004
Expenses§ 59-1005
Dismissal of action§ 59-1006
Construction§ 59-101
Short title§ 59-102
Definitions§ 59-103
Name§ 59-1050
Conversion§ 59-1051
Plan of conversion§ 59-1053
Effects of conversionCite This Page — Counsel Stack
Bluebook (online)
North Carolina § 59-607, Counsel Stack Legal Research, https://law.counselstack.com/statute/nc/59/59-607.