California Corporations Code

§ 15905.035

CORP § 15905.035 Effective Jan 1, 2007Title 2 · Ch. 4.5 · Art. 5

Statute text

The profits and losses of a limited partnership shall be allocated among the partners in the manner provided in the partnership agreement. If the partnership agreement does not otherwise provide, profits and losses shall be allocated in the same manner as the partners share distributions.

Legislative history

Added by Stats. 2006, Ch. 495, Sec. 20. Effective January 1, 2007. Section operative January 1, 2008, pursuant to Section 15912.04.