56a-1004 Return of contribution; liability.
56a-1004. Return of contribution; liability. (a) If a partner has received the return of any part of the partner’s contribution without violation of the partnership agreement or this act, the partner is liable to the limited liability partnership for a period of one year thereafter for the amount of the returned contribution, but only to […]
56a-1001 Statement of qualification.
56a-1001. Statement of qualification. (a) A partnership may become a limited liability partnership pursuant to this section. (b) The terms and conditions on which a partnership becomes a limited liability partnership must be approved by the vote necessary to amend the partnership agreement except, in the case of a partnership agreement that expressly considers contribution […]
56a-1003 Distributions; limitations.
56a-1003. Distributions; limitations. A partner may not receive a distribution from a limited liability partnership to the extent that, after giving effect to the distribution, all liabilities of the limited liability partnership, other than liabilities to partners on account of their partnership interests, exceed the fair value of the partnership assets. History: L. 1998, ch. […]