<?xml version="1.0"?>
<law><site_title>Virginia Decoded</site_title><site_url>https://vacode.org</site_url><law_id>76173</law_id><section_number>50-73.52</section_number><catch_line>Distribution of assets</catch_line><edition url="https://vacode.org/2025/" slug="2025" current="TRUE" last_updated="">2025</edition><structure><unit label="title" level="1" order_by="1" identifier="50">Partnerships</unit><unit label="chapter" level="2" order_by="1" identifier="2.1">Virginia Revised Uniform Limited Partnership Act</unit><unit label="article" level="3" order_by="1" identifier="8">Dissolution</unit></structure><text>
						<section><p>Upon the winding up of a <span class="dictionary">limited partnership</span>, the <span class="dictionary">assets</span> shall be distributed as follows:</p></section>
						<section id="1"><p><span class="prefix-number">1.</span> To <span class="dictionary">creditors</span>, including <span class="dictionary">partners</span> who are <span class="dictionary">creditors</span>, to the extent permitted by <span class="dictionary">law</span>, in satisfaction of liabilities of the <span class="dictionary">limited partnership</span> other than liabilities for distributions to <span class="dictionary">partners</span> under &#xA7; <a class="law" title="Interim distributions" href="/50-73.36/">50-73.36</a> or &#xA7; <a class="law" title="Repealed" href="/50-73.39/">50-73.39</a>; <a id="paragraph-273515" class="section-permalink" href="https://vacode.org/50-73.52/#1"><i class="fa fa-link"/></a></p></section>
						<section id="2"><p><span class="prefix-number">2.</span> Except as provided in the <span class="dictionary">partnership agreement</span>, to <span class="dictionary">partners</span> and former <span class="dictionary">partners</span> in satisfaction of liabilities for distributions under &#xA7; <a class="law" title="Interim distributions" href="/50-73.36/">50-73.36</a> or &#xA7; <a class="law" title="Repealed" href="/50-73.39/">50-73.39</a>; and <a id="paragraph-273516" class="section-permalink" href="https://vacode.org/50-73.52/#2"><i class="fa fa-link"/></a></p></section>
						<section id="3"><p><span class="prefix-number">3.</span> Except as provided in the <span class="dictionary">partnership agreement</span>, to <span class="dictionary">partners</span> first for the return of their <span class="dictionary">contributions</span> and secondly respecting their <span class="dictionary">partnership interests</span>, in the proportions in which the <span class="dictionary">partners</span> share in distributions. <a id="paragraph-273517" class="section-permalink" href="https://vacode.org/50-73.52/#3"><i class="fa fa-link"/></a></p></section></text><history>1985, c. 607.</history><metadata></metadata></law>
