California Corporations Code

§ 15905.08

CORP § 15905.08 Effective Jan 1, 2007Title 2 · Ch. 4.5 · Art. 5

(a)A limited partnership may not make a distribution in violation of the partnership agreement.

(b)A limited partnership may not make a distribution if after the distribution:

(1)the limited partnership would not be able to pay its debts as they become due in the ordinary course of the limited partnership’s activities; or

…

Legislative history

Added by Stats. 2006, Ch. 495, Sec. 20. Effective January 1, 2007. Section operative January 1, 2008, pursuant to Section 15912.04.