O.C.G.A.
O.C.G.A.

14-9A-45 (2019)

Priority among limited partners

✓ O.C.G.A. — 2019 edition (Public.Resource.Org Release 73)
Code text and O.C.G.A. statutory annotations on this page reflect the 2019 Official Code of Georgia Annotated (Public.Resource.Org Release 73, 2019-08-21; public domain per Georgia v. Public.Resource.Org, 2020). The Syfert case-law annotations in Notes of Decisions, below, are current.
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Where there are several limited partners, the members may agree that one or more of the limited partners shall have a priority over other limited partners as to the return of their contributions, as to their compensation by way of income, or as to any other matter. If such an agreement is made, it shall be stated in the certificate required under Code Section 14-9A-20, and in the absence of such a statement all the limited partners shall stand upon equal footing.

History

(Ga. L. 1952, p. 375, § 14; Code 1981, § 14-9-45; Code 1981, § 14-9A-45, as redesignated by Ga. L. 1988, p. 1016, § 1.)

Annotations

RESEARCH REFERENCES Am. Jur. 2d. - 59A Am. Jur. 2d, Partnership, § 846 et seq. C.J.S. - 68 C.J.S., Partnership, § 582 et seq.

U.L.A. - Uniform Limited Partnership Act (U.L.A.) § 14.

Notes of Decisions
Cited in 1 case, 1998–1998 · leading case: Prodigy Centers/Atlanta v. T-C Assocs..
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Prodigy Centers/Atlanta v. T-C Assocs. (Ga. 1998). · cites it 2× “OCGA §§ 14-9A-45; 14-9A-20 (a) (I). Thus, a partner in a limited partnership has a contractual or statutory right to a portion of the financial items produced by the limited partnership.”
Annotations are extracted automatically from the opinions in the Syfert caselaw corpus and ranked by authority, recency, and treatment. Dots show Syfertize treatment of the citing case itself.