50-73.35 - Sharing of distributions. - Virginia Statutes

§ 50-73.35. Sharing of distributions.

Distributions of cash or other assets of a limited partnership shall beallocated among the partners, and among classes of partners, in the mannerprovided in writing in the partnership agreement. If the partnershipagreement does not so provide in writing, distributions shall be made on thebasis of the value, as stated in the partnership records required to be keptpursuant to § 50-73.8, of the contributions made by each partner to theextent they have been received by the partnership and have not been returned.

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