Wyoming § 17-14-708 Liability upon return of contribution

Wyoming Statutes

§ 17-14-708 — Liability upon return of contribution

Wyoming § 17-14-708

Title 17Corporations, Partnerships and Associations

Ch. 14LIMITED PARTNERSHIPS

Art. 7DISTRIBUTIONS AND WITHDRAWAL

This text of Wyoming § 17-14-708 (Liability upon return of contribution) is published on Counsel Stack Legal Research, covering Wyoming primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Wyo. Stat. Ann. § 17-14-708 (2026).

Text

(a)If a partner has received the return of any part of his contribution without violation of the partnership agreement or this act, he is liable to the limited partnership for a period of one (1) year thereafter for the amount of the returned contribution, but only to the extent necessary to discharge the limited partnership's liabilities to creditors who extended credit to the limited partnership during the period the contribution was held by the partnership.

(b)If a partner has received the return of any part of his contribution in violation of the partnership agreement or this act, he is liable to the limited partnership for a period of six (6) years thereafter for the amount of the contribution wrongfully returned.

(c)A partner receives a return of his contribution to the extent tha

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(a) If a partner has received the return of any part of
his contribution without violation of the partnership agreement
or this act, he is liable to the limited partnership for a
period of one (1) year thereafter for the amount of the returned
contribution, but only to the extent necessary to discharge the
limited partnership's liabilities to creditors who extended
credit to the limited partnership during the period the
contribution was held by the partnership.
(b) If a partner has received the return of any part of
his contribution in violation of the partnership agreement or
this act, he is liable to the limited partnership for a period
of six (6) years thereafter for the amount of the contribution
wrongfully returned.
(c) A partner receives a return of his contribution to the
extent that a distribution to him reduces his share of the fair
value of the net assets of the limited partnership below the
value (as set forth in the partnership records required to be
kept pursuant to W.S. 17-14-206) of his contribution which has
not been distributed to him.