{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/50-73.52.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/50-73.52.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/50-73.52.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/50-73.52.html"}],"law_id":76173,"edition_id":1,"section_id":76173,"structure_id":13848,"section_number":"50-73.52","catch_line":"Distribution of assets","history":"1985, c. 607.","full_text":"Upon the winding up of a limited partnership, the assets shall be distributed as follows:\n\n1\n\nTo creditors, including partners who are creditors, to the extent permitted by law, in satisfaction of liabilities of the limited partnership other than liabilities for distributions to partners under § 50-73.36 or § 50-73.39;2\n\nExcept as provided in the partnership agreement, to partners and former partners in satisfaction of liabilities for distributions under § 50-73.36 or § 50-73.39; and3\n\nExcept as provided in the partnership agreement, to partners first for the return of their contributions and secondly respecting their partnership interests, in the proportions in which the partners share in distributions.","order_by":null,"text":{"0":{"id":273514,"text":"Upon the winding up of a limited partnership, the assets shall be distributed as follows:","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1,"next_prefix":"1"},"1":{"id":273515,"text":"To creditors, including partners who are creditors, to the extent permitted by law, in satisfaction of liabilities of the limited partnership other than liabilities for distributions to partners under § 50-73.36 or § 50-73.39;","type":"section","prefixes":["1"],"prefix":"1","entire_prefix":"1","prefix_anchor":"1","level":1,"prior_prefix":"","next_prefix":"2"},"2":{"id":273516,"text":"Except as provided in the partnership agreement, to partners and former partners in satisfaction of liabilities for distributions under § 50-73.36 or § 50-73.39; and","type":"section","prefixes":["2"],"prefix":"2","entire_prefix":"2","prefix_anchor":"2","level":1,"prior_prefix":"1","next_prefix":"3"},"3":{"id":273517,"text":"Except as provided in the partnership agreement, to partners first for the return of their contributions and secondly respecting their partnership interests, in the proportions in which the partners share in distributions.","type":"section","prefixes":["3"],"prefix":"3","entire_prefix":"3","prefix_anchor":"3","level":1,"prior_prefix":"2"}},"ancestry":[{"id":13848,"edition_id":1,"name":"Dissolution","identifier":"8","label":"article","depth":3,"order_by":1,"parent_id":13364,"metadata":{},"date_created":"2026-06-26 03:46:04","date_modified":"2026-06-26 03:46:04","permalink":{"id":234583,"object_type":"structure","relational_id":13848,"identifier":"8","token":"50\/2.1\/8","url":"\/50\/2.1\/8\/","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":54868,"structure_id":13848,"section_number":"50-73.49","catch_line":"Dissolution generally","url":"\/50-73.49\/","token":"50\/2.1\/8\/50-73.49","metadata":false},{"id":68061,"structure_id":13848,"section_number":"50-73.50","catch_line":"Judicial dissolution","url":"\/50-73.50\/","token":"50\/2.1\/8\/50-73.50","metadata":false},{"id":75807,"structure_id":13848,"section_number":"50-73.51","catch_line":"Winding up","url":"\/50-73.51\/","token":"50\/2.1\/8\/50-73.51","metadata":false},{"id":76173,"structure_id":13848,"section_number":"50-73.52","catch_line":"Distribution of assets","url":"\/50-73.52\/","token":"50\/2.1\/8\/50-73.52","metadata":false},{"id":87133,"structure_id":13848,"section_number":"50-73.52:1","catch_line":"Known claims against dissolved limited partnership","url":"\/50-73.52_1\/","token":"50\/2.1\/8\/50-73.52_1","metadata":false},{"id":60611,"structure_id":13848,"section_number":"50-73.52:2","catch_line":"Other claims against dissolved limited partnership","url":"\/50-73.52_2\/","token":"50\/2.1\/8\/50-73.52_2","metadata":false},{"id":67316,"structure_id":13848,"section_number":"50-73.52:3","catch_line":"Court proceedings","url":"\/50-73.52_3\/","token":"50\/2.1\/8\/50-73.52_3","metadata":false},{"id":81501,"structure_id":13848,"section_number":"50-73.52:4","catch_line":"Certificate of cancellation","url":"\/50-73.52_4\/","token":"50\/2.1\/8\/50-73.52_4","metadata":false},{"id":81655,"structure_id":13848,"section_number":"50-73.52:5","catch_line":"Automatic cancellation of limited partnership existence","url":"\/50-73.52_5\/","token":"50\/2.1\/8\/50-73.52_5","metadata":false},{"id":56868,"structure_id":13848,"section_number":"50-73.52:6","catch_line":"Involuntary cancellation of limited partnership existence","url":"\/50-73.52_6\/","token":"50\/2.1\/8\/50-73.52_6","metadata":false},{"id":71264,"structure_id":13848,"section_number":"50-73.52:7","catch_line":"Reinstatement of a limited partnership that has ceased to exist","url":"\/50-73.52_7\/","token":"50\/2.1\/8\/50-73.52_7","metadata":false}],"previous_section":{"id":75807,"structure_id":13848,"section_number":"50-73.51","catch_line":"Winding up","url":"\/50-73.51\/","token":"50\/2.1\/8\/50-73.51","metadata":false},"next_section":{"id":87133,"structure_id":13848,"section_number":"50-73.52:1","catch_line":"Known claims against dissolved limited partnership","url":"\/50-73.52_1\/","token":"50\/2.1\/8\/50-73.52_1","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/50-73.52\/","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.<\/p>","references":false,"refers_to":[{"id":65326,"section_number":"50-73.36","catch_line":"Interim distributions","order_by":null,"url":"\/50-73.36\/"},{"id":78156,"section_number":"50-73.39","catch_line":"Repealed","order_by":null,"url":"\/50-73.39\/"}],"permalink":{"id":234597,"object_type":"law","relational_id":76173,"identifier":"50-73.52","token":"50\/2.1\/8\/50-73.52","url":"\/50-73.52\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/50-73.52\/","token":"50\/2.1\/8\/50-73.52","dublin_core":{"Title":"Distribution of assets","Type":"Text","Format":"text\/html","Identifier":"\u00a7 50-73.52","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

Upon the winding up of a limited partnership<\/span>, the assets<\/span> shall be distributed as follows:<\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> To creditors<\/span>, including partners<\/span> who are creditors<\/span>, to the extent permitted by law<\/span>, in satisfaction of liabilities of the limited partnership<\/span> other than liabilities for distributions to partners<\/span> under § 50-73.36<\/a> or § 50-73.39<\/a>; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> Except as provided in the partnership agreement<\/span>, to partners<\/span> and former partners<\/span> in satisfaction of liabilities for distributions under § 50-73.36<\/a> or § 50-73.39<\/a>; and <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

3.<\/span> Except as provided in the partnership agreement<\/span>, to partners<\/span> first for the return of their contributions<\/span> and secondly respecting their partnership interests<\/span>, in the proportions in which the partners<\/span> share in distributions. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nDISTRIBUTION OF ASSETS (\u00a7 50-73.52)\n\nUpon the winding up of a limited partnership, the assets shall be distributed as\nfollows:\n\n1. To creditors, including partners who are creditors, to the extent permitted\nby law, in satisfaction of liabilities of the limited partnership other than\nliabilities for distributions to partners under § 50-73.36 or §\n50-73.39;\n\n2. Except as provided in the partnership agreement, to partners and former\npartners in satisfaction of liabilities for distributions under § 50-73.36\nor § 50-73.39; and\n\n3. Except as provided in the partnership agreement, to partners first for the\nreturn of their contributions and secondly respecting their partnership\ninterests, in the proportions in which the partners share in distributions.\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}}