§ 7-13-28 - Liability for contribution. - Rhode Island Statutes

SECTION 7-13-28

   § 7-13-28  Liability for contribution.– (a) Except as provided in the partnership agreement, a partner is obligated tothe limited partnership to perform any promise to contribute cash or propertyor to perform services, even if he or she is unable to perform because ofdeath, disability, or any other reason. If a partner does not make the requiredcontribution of property or services, he or she is obligated at the option ofthe limited partnership to contribute cash equal to that portion of the value(as stated in the records to be kept pursuant to § 7-13-5) of the statedcontribution that has not been made.

   (b) Unless otherwise provided in the partnership agreement,the obligation of a partner to make a contribution or return money or otherproperty paid or distributed in violation of this chapter may be compromisedonly by consent of all the partners. Notwithstanding the compromise, a creditorof a limited partnership who extends credit, or whose claim arises, after thefiling of the certificate of limited partnership or an amendment to it which,in either case, reflects the obligation, and before the amendment orcancellation of it to reflect the compromise, may enforce the originalobligation.