Wyoming Statutes
§ 17-21-808 — Settlement of accounts among partners
Wyoming·Title 17 Corporations, Partnerships and Associations·Ch. 21 UNIFORM PARTNERSHIP ACT·Art. 8 WINDING UP PARTNERSHIP BUSINESS
(a)In winding up the partnership business, the assets of
the partnership shall be applied to discharge its obligations to
creditors, including partners who are creditors. Any surplus
shall be applied to pay in cash the net amount distributable to
partners in accordance with their right to distributions
pursuant to subsection (b) of this section.
(b)Each partner is entitled to a settlement of all
partnership accounts upon winding up the partnership business.
In settling accounts among the partners, the profits and losses
that result from the liquidation of the partnership assets shall
be credited and charged to the partners' accounts. The
partnership shall make a distribution to a partner in an amount
equal to that partner's positive balance. A partner shall
contribute to the partnership
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Nearby Sections
15
§ 17-21-1001
Uniformity of application and construction§ 17-21-1002
Short title§ 17-21-1003
Application to existing relationships§ 17-21-101
Definitions§ 17-21-102
Knowledge and notice§ 17-21-104
Supplemental principles of law§ 17-21-106
Law governing internal affairs§ 17-21-108
Powers§ 17-21-1101
Registered limited liability partnerships§ 17-21-1102
Effect of registration; entity unchanged