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.
Conn. Gen. Stat. § 34-24
Limitation on amount of distribution
Known as the The Uniform Limited Partnership Act
The act spans §§ 34–34 (87 sections).
(1961, P.A. 79, S. 16; P.A. 79-440, S. 36.) History: P.A. 79-440 replaced previous provisions which had detailed procedure by which limited partner could receive part or all of …
Official source: Connecticut General Assembly. Reproduced from public-domain Connecticut statutes; confirm against the official source for the current text. Not legal advice.