Legislation

§ 121-503. Sharing of profits and losses. The profits and losses of a
limited partnership shall be allocated among the partners, and among the
classes of partners, in the manner provided in the partnership
agreement. If the partnership agreement does not so provide, profits and
losses shall be allocated on the basis of the value, as stated in the
records of the limited partnership if so stated, of the contributions,
but not including defaulted obligations to make contributions, of each
partner to the extent they have been received by or promised to the
limited partnership and have not been returned.