Syfert Injury Law Firm

Your Trusted Partner in Personal Injury & Workers' Compensation

Call Now: 904-383-7448
Florida Statute 620.8401 - Full Text and Legal Analysis
Florida Statute 620.8401 | Lawyer Caselaw & Research
Link to State of Florida Official Statute
F.S. 620.8401 Case Law from Google Scholar Google Search for Amendments to 620.8401

The 2025 Florida Statutes

Title XXXVI
BUSINESS ORGANIZATIONS
Chapter 620
PARTNERSHIP LAWS
View Entire Chapter
F.S. 620.8401
620.8401 Partner’s rights and duties.
(1) Each partner is deemed to have an account which is:
(a) Credited with an amount equal to the money plus the value of any other property, net of the amount of any liabilities, the partner contributes to the partnership and the partner’s share of the partnership profits; and
(b) Charged with an amount equal to the money plus the value of any other property, net of the amount of any liabilities, distributed by the partnership to the partner and the partner’s share of the partnership losses.
(2) Each partner is entitled to an equal share of the partnership profits and is chargeable with a share of the partnership losses in proportion to the partner’s share of the profits.
(3) A partnership shall reimburse a partner for payments made and indemnify a partner for liabilities incurred by the partner in the ordinary course of the business of the partnership or for the preservation of its business or property.
(4) A partnership shall reimburse a partner for an advance to the partnership beyond the amount of capital the partner agreed to contribute.
(5) A payment or advance made by a partner which gives rise to a partnership obligation under subsection (3) or subsection (4) constitutes a loan to the partnership which accrues interest from the date of the payment or advance.
(6) Each partner has equal rights in the management and conduct of the partnership business.
(7) A partner may use or possess partnership property only on behalf of the partnership.
(8) A partner is not entitled to remuneration for services performed for the partnership, except for reasonable compensation for services rendered in winding up the business of the partnership.
(9) A person may become a partner only with the consent of all of the partners.
(10) A difference arising as to a matter in the ordinary course of business of a partnership may be decided by a majority of the partners. An act outside the ordinary course of business of a partnership and an amendment to the partnership agreement may be undertaken only with the consent of all of the partners.
(11) This section does not affect the obligations of a partnership to other persons under s. 620.8301.
History.s. 13, ch. 95-242.

F.S. 620.8401 on Google Scholar

F.S. 620.8401 on CourtListener

Amendments to 620.8401


Annotations, Discussions, Cases:

Cases Citing Statute 620.8401

Total Results: 3

Stewart Tilghman Fox & Bianchi, P.A. v. Kane (In Re Kane)

470 B.R. 902

United States Bankruptcy Court, S.D. Florida. | Filed: May 10, 2012 | Docket: 406372

Cited 9 times | Published

and the partner's share of losses. Fla. Stat. § 620.8401(1). The purpose of the partner's capital account

Rafael J. Roca v. Lytal & Reiter, Clark

856 So. 2d 1, 2003 WL 21537070

District Court of Appeal of Florida | Filed: Jul 9, 2003 | Docket: 1298048

Cited 4 times | Published

and be responsible for partnership debts. See § 620.8401(2), Fla. Stat. (providing that, absent an agreement

Bakst v. United States (In re Kane & Kane)

475 B.R. 251

United States Bankruptcy Court, S.D. Florida. | Filed: Jul 5, 2012 | Docket: 65784094

Published

the partner’s share of the profits.” Fla. Stat. § 620.8401(2) (1995). Therefore, the Kanes’ interest, by