Fla. Stat. § 620.1503
Sharing of profits, losses, and distributions
Florida · Florida Statutes Chapter 620 — PARTNERSHIP LAWS · Status: effective
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- Citation
- Fla. Stat. § 620.1503, Sharing of profits, losses, and distributions, Florida, version 1 as recorded 2026-07-25, yourstate.us, https://yourstate.us/provision/1153554
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Full text
(1) Profits and losses of a limited partnership shall be allocated among the partners on the basis of the value, as stated in the required records when the limited partnership makes the allocations, of the contributions the limited partnership has received from each partner.
(2) Distributions by a limited partnership shall be shared by the partners on the basis of the value, as stated in the required records when the limited partnership decides to make the distribution, of the contributions the limited partnership has received from each partner.