Okla. Stat. tit. 54, § 54-500-509A
This is the official text of Okla. Stat. tit. 54, § 54-500-509A, part of Oklahoma’s Stat. tit. 54, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 54,." Browse the sections below, each linked to its official government source.
Not legal advice. This page reproduces the official text of a government statute for reference only. Laws change, and how a statute applies depends on your specific facts. For advice about your situation, consult a licensed attorney in your state.
Liability for improper distributions
Official statutory text
LIABILITY FOR IMPROPER DISTRIBUTIONS.
(a) A general partner that consents to a distribution made in
violation of Section 50 of this act is personally liable to the
limited partnership for the amount of the distribution which exceeds
the amount that could have been distributed without the violation if
it is established that in consenting to the distribution the general
partner failed to comply with Section 42 of this act.
(b) A partner or transferee that received a distribution
knowing that the distribution to that partner or transferee was made
in violation of Section 50 of this act is personally liable to the
Oklahoma Statutes - Title 54. Partnership Page 114
limited partnership but only to the extent that the distribution
received by the partner or transferee exceeded the amount that could
have been properly paid under Section 50 of this act.
(c) A general partner against which an action is commenced
under subsection (a) of this section may:
(1) implead in the action any other person that is liable under
subsection (a) of this section and compel contribution from the
person; and
(2) implead in the action any person that received a
distribution in violation of subsection (b) of this section and
compel contribution from the person in the amount the person
received in violation of subsection (b) of this section.
(d) An action under this section is barred if it is not
commenced within two (2) years after the distribution.
(a) A general partner that consents to a distribution made in
violation of Section 50 of this act is personally liable to the
limited partnership for the amount of the distribution which exceeds
the amount that could have been distributed without the violation if
it is established that in consenting to the distribution the general
partner failed to comply with Section 42 of this act.
(b) A partner or transferee that received a distribution
knowing that the distribution to that partner or transferee was made
in violation of Section 50 of this act is personally liable to the
Oklahoma Statutes - Title 54. Partnership Page 114
limited partnership but only to the extent that the distribution
received by the partner or transferee exceeded the amount that could
have been properly paid under Section 50 of this act.
(c) A general partner against which an action is commenced
under subsection (a) of this section may:
(1) implead in the action any other person that is liable under
subsection (a) of this section and compel contribution from the
person; and
(2) implead in the action any person that received a
distribution in violation of subsection (b) of this section and
compel contribution from the person in the amount the person
received in violation of subsection (b) of this section.
(d) An action under this section is barred if it is not
commenced within two (2) years after the distribution.
Status: in_force · Read it on the official government site
Need a lawyer in Oklahoma?
Find a Oklahoma lawyer
About this page: Statute text is reproduced from official government publishers via the
Open US Law dataset
(Vaquill AI, snapshot v2026.08, CC BY 4.0). Primary legislative text like this is public domain under the government-edicts doctrine
(Georgia v. Public.Resource.Org, 2020). We link every section back to its official source so you can verify it independently.