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Louisiana Civil Code Tit. XI, Art. 2842. Restrictions on the right of a partner in commendam to receive contributions

Current as of January 01, 2023 | Updated by Findlaw Staff

A partner in commendam may not receive, directly or indirectly, any part of the capital or undistributed profits of the partnership if to do so would render the partnership insolvent. If he does so, he must restore the amount received together with interest at the legal rate.

If the partnership or the partners do not force the partner in commendam to restore the amount received, the creditors may proceed directly against the partner in commendam to compel the restoration.

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Cite this article: FindLaw.com - Louisiana Civil Code Tit. XI, Art. 2842. Restrictions on the right of a partner in commendam to receive contributions - last updated January 01, 2023 | https://codes.findlaw.com/la/civil-code/la-civ-code-tit-xi-art-2842/

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