A distribution by a limited partnership shall be shared among the partners on the basis of the value, as stated in the required records when the limited partnership decides to make the distribution, of the contributions the limited partnership has received from each partner.
Effective: July 12, 2006

Terms Used In Kentucky Statutes 362.2-503

  • Partner: means a limited partner or general partner. See Kentucky Statutes 362.2-102
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • Partnership: includes both general and limited partnerships. See Kentucky Statutes 446.010

History: Created 2006 Ky. Acts ch. 149, sec. 131, effective July 12, 2006.

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