A distribution by a limited partnership must 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.
Cal. Corp. Code § 15905.03
Contributions and Distributions
Known as the Uniform Limited Partnership Act
The act spans §§ 15900–15912 (125 sections).
Added by Stats. 2006, Ch. 495, Sec. 20
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.