LD 1609
pg. 112
Page 111 of 146 PUBLIC Law Chapter 543 Page 113 of 146
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LR 1469
Item 1

 
not a limited liability limited partnership, the following rules
apply.

 
A.__Each person that was a general partner when the
obligation was incurred and that has not been released from
the obligation under section 1377 shall contribute to the
limited partnership for the purpose of enabling the limited
partnership to satisfy the obligation. The contribution due
from each of those persons is in proportion to the right to
receive distributions in the capacity of general partner in
effect for each of those persons when the obligation was
incurred.

 
B.__If a person does not contribute the full amount required
under paragraph A with respect to an unsatisfied obligation
of the limited partnership, the other persons required to
contribute by paragraph A on account of the obligation shall
contribute the additional amount necessary to discharge the
obligation. The additional contribution due from each of
those other persons is in proportion to the right to receive
distributions in the capacity of general partner in effect
for each of those other persons when the obligation was
incurred.

 
C.__If a person does not make the additional contribution
required by paragraph B, further additional contributions
are determined and due in the same manner as provided in
that paragraph.

 
4.__Additional contribution recoverable.__A person that makes
an additional contribution under subsection 3, paragraph B or C
may recover from any person whose failure to contribute under
subsection 3, paragraph A or B necessitated the additional
contribution. A person may not recover under this subsection more
than the amount additionally contributed. A person's liability
under this subsection may not exceed the amount the person failed
to contribute.

 
5.__Estate of deceased liable for obligations.__The estate of
a deceased individual is liable for the individual's obligations
under this section.

 
6.__Assignee, court appointee may enforce.__An assignee for
the benefit of creditors of a limited partnership or a partner,
or a person appointed by a court to represent creditors of a
limited partnership or a partner, may enforce a person's
obligation to contribute under subsection 3.

 
SUBCHAPTER 9


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