Arizona Revised Statutes

Ariz. Rev. Stat. § 29-329 (2026)

Sharing of profits and losses

✓ current as of May 2026

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The profits and losses of a limited partnership shall be allocated among the partners, and among classes of partners, in the manner provided in writing in the partnership agreement. If the partnership agreement does not so provide in writing, profits and losses shall be allocated on the basis of the value as stated in the partnership records required to be kept pursuant to section 29-305 of the contributions made by each partner to the extent they have been received by the partnership and have not been returned.

Notes of Decisions

Cited in 2 cases, 1968–2001 · leading case: Kitchell Corp. v. Hermansen, 446 P.2d 934 (Ariz. Ct. App. 1968).

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Kitchell Corp. v. Hermansen, 446 P.2d 934 (Ariz. Ct. App. 1968). · cites it 2× “” A.R.S. § 29-329. Was the activity of the Hermansen and Horwitz Corporation ultra vires, and if ;So, should these persons be held individually liable ? We’ think not.”

Hullett v. Cousin, 32 P.3d 44 (Ariz. Ct. App. 2001). · cites it 2× “, property is transferred or an antecedent debt is secured or satisfied____” Appellees argue that Suncrest had a legal obligation under the limited partnership agreement to return to them the value of their partnership interests upon dissolution of the partnership, and that this…”

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