SECTION 620.1503. Sharing of profits, losses, and distributions.

Latest version.

1(1) 2Profits and losses of a limited partnership shall be allocated among the partners on the basis of the value, as stated in the required records when the limited partnership makes the allocations, of the contributions the limited partnership has received from each partner.
45(2) 46Distributions by a limited partnership shall be shared by the partners on the basis of the value, as stated in the required records when the limited partnership decides to make the distribution, of the contributions the limited partnership has received from each partner.

History.-s. 17, ch. 2005-267.

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