{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/50-73.42.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/50-73.42.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/50-73.42.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/50-73.42.html"}],"law_id":65769,"edition_id":1,"section_id":65769,"structure_id":14983,"section_number":"50-73.42","catch_line":"Limitations on distribution","history":"1985, c. 607.","full_text":"A partner may not receive a distribution from a limited partnership to the extent that, after giving effect to the distribution, all liabilities of the limited partnership, other than liabilities to partners on account of their partnership interests, exceed the fair value of the partnership assets.","order_by":null,"text":{"0":{"id":239028,"text":"A partner may not receive a distribution from a limited partnership to the extent that, after giving effect to the distribution, all liabilities of the limited partnership, other than liabilities to partners on account of their partnership interests, exceed the fair value of the partnership assets.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1}},"ancestry":[{"id":14983,"edition_id":1,"name":"Distributions and Withdrawal","identifier":"6","label":"article","depth":3,"order_by":1,"parent_id":13364,"metadata":{},"date_created":"2026-06-26 03:51:18","date_modified":"2026-06-26 03:51:18","permalink":{"id":234497,"object_type":"structure","relational_id":14983,"identifier":"6","token":"50\/2.1\/6","url":"\/50\/2.1\/6\/","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":65326,"structure_id":14983,"section_number":"50-73.36","catch_line":"Interim distributions","url":"\/50-73.36\/","token":"50\/2.1\/6\/50-73.36","metadata":false},{"id":68823,"structure_id":14983,"section_number":"50-73.37","catch_line":"Withdrawal of general partner","url":"\/50-73.37\/","token":"50\/2.1\/6\/50-73.37","metadata":false},{"id":57168,"structure_id":14983,"section_number":"50-73.38","catch_line":"Withdrawal of limited partner","url":"\/50-73.38\/","token":"50\/2.1\/6\/50-73.38","metadata":false},{"id":78156,"structure_id":14983,"section_number":"50-73.39","catch_line":"Repealed","url":"\/50-73.39\/","token":"50\/2.1\/6\/50-73.39","metadata":false},{"id":68362,"structure_id":14983,"section_number":"50-73.39:1","catch_line":"No right to distribution upon withdrawal","url":"\/50-73.39_1\/","token":"50\/2.1\/6\/50-73.39_1","metadata":false},{"id":68308,"structure_id":14983,"section_number":"50-73.40","catch_line":"Distribution in kind","url":"\/50-73.40\/","token":"50\/2.1\/6\/50-73.40","metadata":false},{"id":83754,"structure_id":14983,"section_number":"50-73.41","catch_line":"Right to distribution","url":"\/50-73.41\/","token":"50\/2.1\/6\/50-73.41","metadata":false},{"id":65769,"structure_id":14983,"section_number":"50-73.42","catch_line":"Limitations on distribution","url":"\/50-73.42\/","token":"50\/2.1\/6\/50-73.42","metadata":false},{"id":78147,"structure_id":14983,"section_number":"50-73.43","catch_line":"Liability upon return of contribution","url":"\/50-73.43\/","token":"50\/2.1\/6\/50-73.43","metadata":false}],"previous_section":{"id":83754,"structure_id":14983,"section_number":"50-73.41","catch_line":"Right to distribution","url":"\/50-73.41\/","token":"50\/2.1\/6\/50-73.41","metadata":false},"next_section":{"id":78147,"structure_id":14983,"section_number":"50-73.43","catch_line":"Liability upon return of contribution","url":"\/50-73.43\/","token":"50\/2.1\/6\/50-73.43","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/50-73.42\/","history_text":"<p>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.<\/p>","references":false,"refers_to":false,"permalink":{"id":234527,"object_type":"law","relational_id":65769,"identifier":"50-73.42","token":"50\/2.1\/6\/50-73.42","url":"\/50-73.42\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/50-73.42\/","token":"50\/2.1\/6\/50-73.42","dublin_core":{"Title":"Limitations on distribution","Type":"Text","Format":"text\/html","Identifier":"\u00a7 50-73.42","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t<section><p>A <span class=\"dictionary\">partner<\/span> may not receive a distribution from a <span class=\"dictionary\">limited partnership<\/span> to the extent that, after giving effect to the distribution, all liabilities of the <span class=\"dictionary\">limited partnership<\/span>, other than liabilities to <span class=\"dictionary\">partners<\/span> on account of their <span class=\"dictionary\">partnership interests<\/span>, exceed the fair value of the partnership <span class=\"dictionary\">assets<\/span>.<\/p><\/section>","plain_text":"                                 CODE OF VIRGINIA\n\nLIMITATIONS ON DISTRIBUTION (\u00a7 50-73.42)\n\nA partner may not receive a distribution from a limited partnership to the\nextent that, after giving effect to the distribution, all liabilities of the\nlimited partnership, other than liabilities to partners on account of their\npartnership interests, exceed the fair value of the partnership assets.\n\nHISTORY: 1985, c. 607.","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}}