2006 Kentucky Revised Statutes - .473   Limitation of distribution.  (Effective until January 1, 2008)

362.473 Limitation of distribution. (Effective until January 1, 2008) 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. Effective: July 15, 1988 History: Repealed 2006 Ky. Acts ch. 149, sec. 239, effective January 1, 2008. -- Created 1988 Ky. Acts ch. 284, sec. 37, effective July 15, 1988.