A partner shall 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.
N.C. Gen. Stat. § 59-607
Limitations on distribution
Known as the Revised Uniform Limited Partnership Act
The act spans §§ 59–59 (83 sections).
1985 (Reg
Official source: North Carolina General Assembly. Reproduced from public-domain North Carolina statutes; confirm against the official source for the current text. Not legal advice.