2006 Kentucky Revised Statutes - .459   Sharing of distributions.  (Effective until January 1, 2008)

362.459 Sharing of distributions. (Effective until January 1, 2008) Distributions of cash or other assets of a limited partnership shall be allocated among the partners, and among classes of partners, in the manner provided in writing in the partnership agreement. If the partnership agreement does not so provide in writing, distributions shall be made on the basis of the value, as stated in the partnership records required to be kept pursuant to KRS 362.409, of the contributions made by each partner to the extent they have been received by the partnership and have not been returned. Effective: July 15, 1988 History: Repealed 2006 Ky. Acts ch. 149, sec. 239, effective January 1, 2008. -- Created 1988 Ky. Acts ch. 284, sec. 30, effective July 15, 1988.