The profits and losses of a limited partnership shall be allocated among the partners, and among classes of partners, in the manner provided in the partnership agreement. If the partnership agreement does not so provide, profits and losses shall be allocated on the basis of the value, as stated in the partnership agreement, of the contributions made by each partner to the extent they have been received by the partnership and have not been returned.
Conn. Gen. Stat. § 34-20a
Sharing of profits and losses by partners
Known as the The Uniform Limited Partnership Act
The act spans §§ 34–34 (87 sections).
(P.A. 79-440, S. 28; P.A. 86-379, S. 12.) History: P.A. 86-379 substituted “partnership agreement” for “certificate of limited partnership”.
Official source: Connecticut General Assembly. Reproduced from public-domain Connecticut statutes; confirm against the official source for the current text. Not legal advice.