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New Jersey Statutes, Title: 42, PARTNERSHIPS AND PARTNERSHIP ASSOCIATIONS
Chapter 3: Under authority of R.S. 42:3-1 et seq.
Section: 42:3-13: Division of profits of business
A limited partnership association may, from time to time, divide the profits of its business in such manner and in such an amount as a majority of its managers may determine, which profits so divided shall not at the time diminish or impair the capital of the association. Any one consenting to a dividend which shall diminish or impair the capital shall be liable to any person interested or injured thereby to the amount of such diminution or impairment.
This section added to the Rutgers Database: 2012-09-26 13:37:53.
Older versions of 42:3-13 (if available):
Court decisions that cite this statute:
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