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2012 Vermont Statutes
Title 11 Corporations, Partnerships and Associations
Chapter 23 LIMITED PARTNERSHIPS
§ 3457 Limitations on distribution


11 V.S.A. § 3457. What's This?

§ 3457. Limitations on distribution

A partner may 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. (Added 1997, No. 149 (Adj. Sess.), § 4, eff. Jan. 1, 1999.)

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