Section 1783.10 | Dividends.
Effective:
October 1, 1953
Latest Legislation:
House Bill 1 - 100th General Assembly
A limited partnership association from time to time may divide the profits of its business as a majority of its managers determine. Such division of profits shall not, at the time it is made diminish or impair the capital of the association. Anyone consenting to a dividend which diminishes or impairs the capital shall be liable to any person injured thereby, to the amount of such diminution or impairment.
Available Versions of this Section
- October 1, 1953 – House Bill 1 - 100th General Assembly [ View October 1, 1953 Version ]