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487.502 Liability for contribution.

Except as provided in the certificate of limited partnership, a partner is obligated to the limited partnership to perform a promise to contribute cash or property or to perform services even if the partner is unable to perform because of death, disability, or any other reason. If the partner does not make the contribution, the limited partnership may require the partner to contribute cash equal to that portion of the value, as stated in the certificate of limited partnership, of the stated contribution that has not been made.

Section History: Early form

[C24, 27, 31, 35, 39, § 9830; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, § 545.25; 82 Acts, ch 1103, § 502]

Section History: Recent form

C93, § 487.502

Internal References

Referred to in § 487.704

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Last update: Mon Jan 27 16:05:08 CST 1997
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