Utah Code § 16-19-502
Liability for contribution
Utah · Utah Code Title 16 — Business Entities · Status: effective
Cite this
- Citation
- Utah Code § 16-19-502, Liability for contribution, Utah, version 1 as recorded 2026-10-03, yourstate.us, https://yourstate.us/provision/2328550
- Permanent ID
ys:prov:2328550@1- SHA-256
90a85abc98b8a80ec424a52e73ff49f45b52b85c11d62f4b30e3c0b100fc07a5
The hash is SHA-256 of this version's text, with every run of whitespace collapsed to a single space and the ends trimmed. The ID always leads back here, and checking it says whether the text you cited is still the current version.
Full text
(1) A person's obligation to make a contribution to a limited partnership is not excused by the person's death, disability, dissolution, or other inability to perform personally.
(2) If a person does not fulfill an obligation to make a contribution other than money, the person is obligated at the option of the limited partnership to contribute money equal to the value, as stated in the required information, of the part of the contribution which has not been made.
(3)
(a) The obligation of a person to make a contribution may be compromised only by the affirmative vote or consent of all partners.
(b) If a creditor of a limited partnership extends credit or otherwise acts in reliance on an obligation described in Subsection (1) without notice of any compromise under this subsection, the creditor may enforce the original obligation.