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.
[C24, 27, 31, 35, 39, § 9825, 9826; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, § 545.20, 545.21; 82 Acts, ch 1103, § 607]
C93, § 487.607
97 Acts, ch 188, § 37
Previous Section 487.606
Next Section 487.608
© 2004 Cornell College and League of Women Voters of Iowa
Comments about this site or page?
webmaster@legis.iowa.gov.
Please remember that the person listed above does not vote on bills. Direct all comments concerning legislation to State Legislators.
Last update: Thu Jan 15 10:49:41 CST 2004
URL: /DOCS/IACODE/2003SUPPLEMENT/487/607.html
jhf