56a-1003. Distributions; limitations.

56a-1003

Chapter 56a.--KANSAS UNIFORM PARTNERSHIP ACT Article 10.--LIMITED LIABILITY PARTNERSHIP

      56a-1003.   Distributions; limitations.A partner may not receive a distribution from a limitedliabilitypartnershipto the extent that, after giving effect to the distribution, all liabilitiesof the limited liability partnership, other than liabilities to partners onaccountof their partnership interests, exceed the fair value of the partnershipassets.

      History:   L. 1998, ch. 93, § 63; Jan. 1, 1999.