§ 7-13-29 - Sharing of profits and losses. - Rhode Island Statutes

SECTION 7-13-29

   § 7-13-29  Sharing of profits and losses.– The profits and losses of a limited partnership shall be allocated among thepartners and the classes of partners in the manner provided in the partnershipagreement. If the partnership agreement does not provide for allocation,profits and losses shall be allocated on the basis of the value, as stated inthe partnership records required to be kept pursuant to § 7-13-5, of thecontributions made by each partner to the extent they have been received by thepartnership and have not been returned.