[§425E-509] 

Liability for improper distributions.  (a)  A general partner that

consents to a distribution made in violation of section 425E-508 shall be

personally liable to the limited partnership for the amount of the distribution

which exceeds the amount that could have been distributed without the violation

if it is established that in consenting to the distribution the general partner

failed to comply with section 425E-408.

     (b)  A partner or transferee that received a

distribution knowing that the distribution to that partner or transferee was

made in violation of section 425E-508 shall be personally liable to the limited

partnership but only to the extent that the distribution received by the

partner or transferee exceeded the amount that could have been properly paid

under section 425E-508.

     (c)  A general partner against which an action

is commenced under subsection (a) may:

     (1)  Implead in the action any other person that is

liable under subsection (a) and compel contribution from the person; and

     (2)  Implead in the action any person that received a

distribution in violation of subsection (b) and compel contribution from the

person in the amount the person received in violation of subsection (b).

     (d)  An action under this section is barred if

it is not commenced within two years after the distribution. [L 2003, c 210, pt

of §1]