8557 - Distributions and allocation of profits and losses. - Pennsylvania Statutes

§ 8557. Distributions and allocation of profits and losses. A limited partnership may from time to time make distributions and allocate the profits and losses of its business to the partners upon the basis stipulated in the partnership agreement or, if not stipulated in the partnership agreement, per capita. The allocation of losses pursuant to this section shall not affect the limitation on liability of limited partners as provided in section 8523 (relating to liability of limited partners to third parties). (June 22, 2001, P.L.418, No.34, eff. 60 days)