{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/50-73.34.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/50-73.34.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/50-73.34.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/50-73.34.html"}],"law_id":77882,"edition_id":1,"section_id":77882,"structure_id":16057,"section_number":"50-73.34","catch_line":"Sharing of profits and losses","history":"1985, c. 607; 1987, c. 702.","full_text":"The profits and losses of a limited partnership shall be allocated among the partners, and among classes of partners, in the manner provided in writing in the partnership agreement. If the partnership agreement does not so provide in writing, profits and losses shall be allocated on the basis of the value, as stated in the partnership records required to be kept pursuant to \u00a7 50-73.8, of the contributions made by each partner to the extent they have been received by the partnership and have not been returned.","order_by":null,"text":{"0":{"id":279282,"text":"The profits and losses of a limited partnership shall be allocated among the partners, and among classes of partners, in the manner provided in writing in the partnership agreement. If the partnership agreement does not so provide in writing, profits and losses shall be allocated on the basis of the value, as stated in the partnership records required to be kept pursuant to \u00a7 50-73.8, of the contributions made by each partner to the extent they have been received by the partnership and have not been returned.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1}},"ancestry":[{"id":16057,"edition_id":1,"name":"Finance","identifier":"5","label":"article","depth":3,"order_by":1,"parent_id":13364,"metadata":{},"date_created":"2026-06-26 04:04:50","date_modified":"2026-06-26 04:04:50","permalink":{"id":234479,"object_type":"structure","relational_id":16057,"identifier":"5","token":"50\/2.1\/5","url":"\/50\/2.1\/5\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13364,"edition_id":1,"name":"Virginia Revised Uniform Limited Partnership Act","identifier":"2.1","label":"chapter","depth":2,"order_by":1,"parent_id":12957,"metadata":{},"date_created":"2026-06-26 03:44:43","date_modified":"2026-06-26 03:44:43","permalink":{"id":234243,"object_type":"structure","relational_id":13364,"identifier":"2.1","token":"50\/2.1","url":"\/50\/2.1\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12957,"edition_id":1,"name":"Partnerships","identifier":"50","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:44:04","date_modified":"2026-06-26 03:44:04","permalink":{"id":234229,"object_type":"structure","relational_id":12957,"identifier":"50","token":"50","url":"\/50\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":74625,"structure_id":16057,"section_number":"50-73.32","catch_line":"Form of contribution","url":"\/50-73.32\/","token":"50\/2.1\/5\/50-73.32","metadata":false},{"id":63061,"structure_id":16057,"section_number":"50-73.33","catch_line":"Liability for contribution","url":"\/50-73.33\/","token":"50\/2.1\/5\/50-73.33","metadata":false},{"id":77882,"structure_id":16057,"section_number":"50-73.34","catch_line":"Sharing of profits and losses","url":"\/50-73.34\/","token":"50\/2.1\/5\/50-73.34","metadata":false},{"id":71927,"structure_id":16057,"section_number":"50-73.35","catch_line":"Sharing of distributions","url":"\/50-73.35\/","token":"50\/2.1\/5\/50-73.35","metadata":false}],"previous_section":{"id":63061,"structure_id":16057,"section_number":"50-73.33","catch_line":"Liability for contribution","url":"\/50-73.33\/","token":"50\/2.1\/5\/50-73.33","metadata":false},"next_section":{"id":71927,"structure_id":16057,"section_number":"50-73.35","catch_line":"Sharing of distributions","url":"\/50-73.35\/","token":"50\/2.1\/5\/50-73.35","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/50-73.34\/","history_text":"

This law was first created in 1985. The record of its establishment is cataloged in chapter 607 of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year. Unfortunately, the 1985 \u201cActs\u201d aren\u2019t available online. It has been modified 1 time. Those modifications are cataloged by \u201cThe Acts of Assembly,\u201d a state publication, by year and chapter. Those modifications that can be read on the General Assembly\u2019s website will be linked accordingly. That modification is as follows: in 1987, chapter 702.<\/p>","references":false,"refers_to":[{"id":86051,"section_number":"50-73.8","catch_line":"Records to be kept","order_by":null,"url":"\/50-73.8\/"}],"permalink":{"id":234489,"object_type":"law","relational_id":77882,"identifier":"50-73.34","token":"50\/2.1\/5\/50-73.34","url":"\/50-73.34\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/50-73.34\/","token":"50\/2.1\/5\/50-73.34","dublin_core":{"Title":"Sharing of profits and losses","Type":"Text","Format":"text\/html","Identifier":"\u00a7 50-73.34","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

The profits and losses of a limited partnership<\/span> shall be allocated among the partners<\/span>, and among classes of partners<\/span>, in the manner provided in writing in the partnership agreement<\/span>. If the partnership agreement<\/span> does not so provide in writing, profits and losses shall be allocated on the basis of the value, as stated in the partnership records required to be kept pursuant to \u00a7 50-73.8<\/a>, of the contributions<\/span> made by each partner<\/span> to the extent they have been received by the partnership and have not been returned.<\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nSHARING OF PROFITS AND LOSSES (\u00a7 50-73.34)\n\nThe profits and losses of a limited partnership shall be allocated among the\npartners, and among classes of partners, in the manner provided in writing in\nthe partnership agreement. If the partnership agreement does not so provide in\nwriting, profits and losses shall be allocated on the basis of the value, as\nstated in the partnership records required to be kept pursuant to \u00a7 50-73.8, of\nthe contributions made by each partner to the extent they have been received by\nthe partnership and have not been returned.\n\nHISTORY: 1985, c. 607; 1987, c. 702.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}