§3457. Limitations on distribution

Link to law: http://legislature.vermont.gov/statutes/section/11/023/03457
Published: 2015

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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.)
Read Entire Law on legislature.vermont.gov