620.1407 – Right of general partner and former general partner to information.
620.1407 Right of general partner and former general partner to information.— (1) A general partner, without having any particular purpose for seeking the information, may inspect and copy during regular business hours: (a) In the limited partnership’s designated office, required information. (b) At a reasonable location specified by the limited partnership, any other records maintained by the limited partnership […]
620.1606 – Power to bind and liability to limited partnership before dissolution of partnership of person dissociated as general partner.
620.1606 Power to bind and liability to limited partnership before dissolution of partnership of person dissociated as general partner.— (1) After a person is dissociated as a general partner and before the limited partnership is dissolved, converted under s. 620.2102, or merged out of existence under s. 620.2106, the limited partnership is bound by an act of […]
620.1408 – General standards of conduct for general partner.
620.1408 General standards of conduct for general partner.— (1) The only fiduciary duties that a general partner has to the limited partnership and the other partners are the duties of loyalty and care under subsections (2) and (3). (2) A general partner’s duty of loyalty to the limited partnership and the other partners is limited to the following: […]
620.1501 – Form of contribution.
620.1501 Form of contribution.—A contribution of a partner may consist of tangible or intangible property or other benefit to the limited partnership, including money, services performed, promissory notes, other agreements to contribute cash or property, and contracts for services to be performed. History.—s. 17, ch. 2005-267.
620.1502 – Liability for contribution.
620.1502 Liability for contribution.— (1) A partner’s obligation to contribute money or other property or other benefit to, or to perform services for, a limited partnership shall be in a record signed by the partner, and such obligation shall not be excused by the partner’s death, disability, or other inability to perform personally. (2) If a partner does […]
620.1503 – Sharing of profits, losses, and distributions.
620.1503 Sharing of profits, losses, and distributions.— (1) Profits and losses of a limited partnership shall be allocated among the partners on the basis of the value, as stated in the required records when the limited partnership makes the allocations, of the contributions the limited partnership has received from each partner. (2) Distributions by a limited partnership shall […]
620.1504 – Interim distributions.
620.1504 Interim distributions.—A partner does not have a right to any distribution before the dissolution and winding up of the limited partnership unless the limited partnership decides to make an interim distribution. History.—s. 17, ch. 2005-267.
620.1505 – No distribution on account of dissociation.
620.1505 No distribution on account of dissociation.—A person does not have a right to receive a distribution on account of dissociation. History.—s. 17, ch. 2005-267.
620.1506 – Distribution in kind.
620.1506 Distribution in kind.—A partner does not have a right to demand or receive any distribution from a limited partnership in any form other than cash. Subject to s. 620.1813, a limited partnership may distribute an asset in kind to the extent each partner receives a percentage of the asset equal to the partner’s share of […]
620.1507 – Right to distribution.
620.1507 Right to distribution.—When a partner or transferee becomes entitled to receive a distribution, the partner or transferee has the status of, and is entitled to all remedies available to, a creditor of the limited partnership with respect to the distribution. However, the limited partnership’s obligation to make a distribution is subject to offset for any […]