Kansas Statutes Annotated
Updated Through the 2013 Legislative Session

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Statute Number:56-1a303
Chapter Title:PARTNERSHIPS
Article Title:REVISED UNIFORM LIMITED PARTNERSHIP ACT
Tax Type:Corporate Income Tax
Brief Description:Allocation of profits and losses.
Keywords:


Body:

56-1a303. Allocation 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 provide for the allocation, profits and losses shall be allocated on the basis of the value, as stated in the records of the limited partnership, of the contributions made by each partner to the extent they have been received by the partnership and have not been returned.
History: L. 1983, ch. 88, 30;L. 1988, ch. 195, 13; July 1.


Date Composed: 04/04/2011 Date Modified: 04/04/2011

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