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The Vermont Statutes Online
Title
11
:
Corporations, Partnerships and Associations
Chapter
023
:
LIMITED PARTNERSHIPS
Subchapter
006
:
DISTRIBUTIONS AND WITHDRAWAL
§
3457. Limitations on distribution
A partner may
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. (Added 1997, No. 149 (Adj.
Sess.), § 4, eff. Jan. 1, 1999.)