(1) (a) If a partner receives the return of any part of his contribution without
violation of the partnership agreement or KRS 362.403 to 362.525, he shall be liable to the limited partnership for a period of one (1) year thereafter
for the amount of the returned contribution, without interest, but only to the extent
necessary to discharge the limited partnership's liabilities to creditors who extended
credit to the limited partnership during the period the contribution was held by the
(b) If a partner receives the return of any part of his contribution in violation
of the partnership agreement or KRS 362.403 to 362.525, he shall be liable to the limited partnership for a period of six (6) years thereafter
for the amount of the contribution, without interest, wrongfully returned.
(2) A partner shall receive a return of his contribution to the extent that a distribution
to him reduces his share of the fair value of the net assets of the limited partnership
below the value, as set forth in the partnership records required to be kept pursuant
to KRS 362.409, of his contribution which has not been distributed to him.
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