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Code · New Jersey · Title 42 — Recreation and Sports · Chapter 2A

42:2A-37. Sharing of profits and losses

89 words·~1 min read·/nj/title-42/chapter-2a/42-2a-37

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Sharing of profits and losses. The profits and losses of a limited partnership shall be allocated among the partners, and among classes of partners, in the manner provided in the partnership agreement. If the partnership agreement does not so provide, profits and losses shall be allocated on the basis of the value (as stated in the limited partnership agreement) of the contributions made by each partner to the extent they have been received by the partnership and have not been returned.
L. 1983, c. 489, s. 36; amended 1988,c.130,s.20.
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