A distribution by a limited partnership must be shared among the partners on the basis of the value, as stated in the required information when the limited partnership decides to make the distribution, of the contributions the limited partnership has received from each partner.
Iowa Code § 488.503
Sharing of distributions
Known as the Uniform Limited Partnership Act
The act spans §§ 488–488 (109 sections).
2004 Acts, ch 1021, §45, 118
Official source: Iowa Legislature. Reproduced from public-domain Iowa statutes; confirm against the official source for the current text. Not legal advice.