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2018 Georgia Code 14-9-501 | Car Wreck Lawyer

Link to State of Georgia Official Statute 2018 Georgia Code Annotated (sourced from legal.resource.org)
O.C.G.A. 14-9-501 Case Law from Google Scholar Amendments to OCGA 14-9-501

TITLE 14 CORPORATIONS, PARTNERSHIPS, AND ASSOCIATIONS

Section 9. Revised Uniform Limited Partnership Act, 14-9-100 through 14-9-1204.

ARTICLE 5 FINANCE

14-9-501. Form of contribution.

The contribution of a partner to the capital of a limited partnership may be in such form as is provided in the partnership agreement, including, unless otherwise provided therein but without limitation, cash, property, and services rendered, and may be made in such manner as is provided in the partnership agreement, including, unless otherwise provided therein but without limitation, by delivery of a promissory note or other obligation to contribute cash or property or to perform services.

(Code 1981, §14-9-501, enacted by Ga. L. 1988, p. 1016, § 1.)

COMMENT

Note to Georgia Revised Uniform Limited Partnership Act This section permits contributions to the capital of a limited partnership in any form and manner provided in the partnership agreement.

Prior Georgia Law Section 14-9A-40 requires contributions by "cash or other property but not services."

Comparison With Official RULPA The section is basically similar to the official version, but makes it even clearer that a capital contribution can be in any form, and can be made in any manner, provided in the partnership agreement.

Cross-References Definition of "contribution" to include only capital contributions: § 14-9-101(2). Enforceability and reduction or elimination of capital contribution obligations: § 14-9-502.

RESEARCH REFERENCES

Am. Jur. 2d.

- 59A Am. Jur. 2d, Partnership, § 166 et seq.

C.J.S.

- 68 C.J.S., Partnership, § 568.

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