50-73.34 - Sharing of profits and losses. - Virginia Statutes

§ 50-73.34. Sharing of profits and losses.

The profits and losses of a limited partnership shall be allocated among thepartners, and among classes of partners, in the manner provided in writing inthe partnership agreement. If the partnership agreement does not so providein writing, profits and losses shall be allocated on the basis of the value,as stated in the partnership records required to be kept pursuant to §50-73.8, of the contributions made by each partner to the extent they havebeen received by the partnership and have not been returned.

(1985, c. 607; 1987, c. 702.)