La. Civ. Code art. 2833
This is the official text of La. Civ. Code art. 2833, part of Louisiana’s Civil Code — louisiana's civil law tradition codifies persons, property, obligations, and family relations here rather than in a separate statutory code.
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Division of the partnership assets.
Official statutory text
The creditors of a partnership shall be paid in the following order of priority: secured creditors in accordance with their security rights; unsecured creditors who are not partners; unsecured creditors who are partners.
If any assets remain after the payment of all secured and unsecured creditors, the capital contributions shall be restored to the partners. Finally, any surplus shall be divided among the partners proportionally based on their respective interests in the partnership.
Acts 1980, No. 150, ยง1.
If any assets remain after the payment of all secured and unsecured creditors, the capital contributions shall be restored to the partners. Finally, any surplus shall be divided among the partners proportionally based on their respective interests in the partnership.
Acts 1980, No. 150, ยง1.
Status: in_force · Read it on the official government site
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