2013 New Jersey Revised Statutes
Section 42:2A-37 - Sharing of profits and losses

NJ Rev Stat § 42:2A-37 (2013) What's This?

42:2A-37. Sharing of profits and losses
Sharing of profits and losses. The profits and losses of a limited partnership shall be allocated among the partners, and among classes of partners, in the manner provided in the partnership agreement. If the partnership agreement does not so provide, profits and losses shall be allocated on the basis of the value (as stated in the limited partnership agreement) of the contributions made by each partner to the extent they have been received by the partnership and have not been returned.

L. 1983, c. 489, s. 36; amended 1988,c.130,s.20.

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