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2019 Indiana Code
Title 23. Business and Other Associations
Article 16. Limited Partnerships
Chapter 7. Distributions and Withdrawals
23-16-7-7. Limitations on distribution
Universal Citation: IN Code § 23-16-7-7 (2019)
IC 23-16-7-7 Limitations on distribution
Sec. 7. A partner may not receive a distribution from a limited partnership to the extent that at the time of the distribution, after giving effect to the distribution, all liabilities of the limited partnership, other than liabilities to partners on account of their partnership interests, would exceed the fair value of the partnership assets.
As added by P.L.147-1988, SEC.1.
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