There Is a Newer Version of the North Carolina General Statutes
2011 North Carolina General Statutes
Chapter 59 Partnership.
Article 5 - Revised Uniform Limited Partnership Act.
59-607. Limitations on distribution.
NC Gen Stat § 59-607 What's This?
59‑607. Limitations on distribution.
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. (1985 (Reg. Sess., 1986), c. 989, s. 2.)
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