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

14-9A-46 (2019)

Compensation

✓ O.C.G.A. (archive.org 2024 item): print volumes of 2004-2024, per-volume vintage; older volumes partly replaced by 2019 Release 73 text; no 2025 or 2026 Acts
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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A limited partner may receive from the partnership the share of the profits or the compensation by way of income stipulated in the certificate, provided that after such payment is made, whether from the property of the partnership or that of a general partner, the partnership assets are in excess of all liabilities of the partnership except liabilities to limited partners on account of their contributions and to general partners.

History

(Ga. L. 1952, p. 375, § 15; Code 1981, § 14-9-46; Code 1981, § 14-9A-46, as redesignated by Ga. L. 1988, p. 1016, § 1.)

Annotations

RESEARCH REFERENCES

Am. Jur. 2d. - 59A Am. Jur. 2d, Partnership, § 828.

C.J.S. - 68 C.J.S., Partnership, § 582 et seq.

U.L.A. - Uniform Limited Partnership Act (U.L.A.) § 15.

Notes of Decisions
Cited in 2 cases, 1995–2007 · leading case: Hendry v. Wells, 650 S.E.2d 338 (Ga. Ct. App. 2007).
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Hendry v. Wells, 650 S.E.2d 338 (Ga. Ct. App. 2007). · cites it 2× “They include access to the partnership books, the ability to demand true and full information and a formal account of the partnership, dissolution and winding up by court decree, a share of the profits or compensation as provided by the partnership certificate, and the return of…”
Nigri v. Lotz, 453 S.E.2d 780 (Ga. Ct. App. 1995). “The charging order remedy entitles the creditor to receive the profits and surplus of the limited partnership, which the limited partner would otherwise have been entitled to receive, up to the unsatisfied amount of the judgment debt, but gives no direct remedy against specific…”
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.