Kansas Statutes Annotated
Updated Through the 2013 Legislative Session

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Statute Number:56-1a357
Chapter Title:PARTNERSHIPS
Article Title:REVISED UNIFORM LIMITED PARTNERSHIP ACT
Tax Type:Corporate Income Tax
Brief Description:Limitations on distributions.
Keywords:


Body:

56-1a357. Limitations on distributions. 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.
History: L. 1983, ch. 88, 38; July 1.


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

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