Section 10-9C-503 (Effective January 1, 2010) Sharing of distributions.
Section 10-9C-503
(Effective January 1, 2010) Sharing of distributions.
A distribution by a limited partnership must be shared among the partners on the basis of the value, as stated in the required records when the limited partnership decides to make the distribution, of the contributions the limited partnership has received from each partner.
(Act 2009-621, §1.)