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Hawaii |
[§425e-502]  Liability For contribution.

(a) A partner's obligation to contribute money or other property or other benefit to, or to perform services for, a limited partnership shall not be excused by the partner's death, disability, or other inability to perform personally.

(b) If a partner does not make a promised nonmonetary contribution, the partner is obligated at the option of the limited partnership to contribute money equal to that portion of the value, as stated in the required information, of the stated contribution which has not been made.

(c) The obligation of a partner to make a contribution or return money or other property paid or distributed in violation of this chapter may be compromised only by consent of all partners. A creditor of a limited partnership that extends credit or otherwise acts in reliance on an obligation described in subsection (a), without notice of any compromise under this subsection, may enforce the original obligation. [L 2003, c 210, pt of §1]

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Local Government
Hawaii
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David Y. Ige
David Ige
December 1, 2014 -
Democratic
808-695-4620
201 Merchant St., Suite 1805, Honolulu, HI, 96813

Keywords
partners
partner
limited
partnership
obligation
money
contribution
contribute
distributed
violation