An Act to amend and reenact § 46.1-299, as amended, of the Code of Virginia, relating to devices signalling intention to turn or stop and rules therefor.
Volume 1968 Law 99
Volume | 1897/1898 |
---|---|
Law Number | 23 |
Subjects |
Law Body
Chap. 23.—An ACT to amend and re-enact section 2872 of the code of Virginia,
when capital not to be withdrawn on dividend made.
Approved December 2?, 18:
1. Be it enacted by the general assembly of Virginia, That section
twenty-eight hundred and seventy-two of the code of Virginia, in rela-
tion to the withdrawal of ¢: ypital or the pavinent of dividends in cases
of limited partnerships, be amended and re-enacted so ag to read as fol-
lows:
S$ 2872, During the continuance of the partnership, no part of any
ein which any special partner has contributed to the stock shall be
withdrawn, nor shall any division of interest or profits be made, so long
as the stock is reduced below the sum stated in the paper mentioned in
section twenty-eight hundred and sixty-five; and, if at any time during
the continuance or at the termination of the partnership, its assets are
not suflicient to pay its debts, the special partners shall severally be
liable for all sums by them in any way withdrawn or received, w ith in-
terest thereon from the time when they were so withdrawn or ‘received,
or so much thereof as may be necessary to pay such partnership debts
as Muay remain unpaid after applying thereto. the partnership effects:
provided, that said withdrawals or receipts do not, at the time of said
Withdrawals or receipts, Hnpair the original sum contributed by said
special partners, as set forth in the paper executed in pursuance of sec-
tion twenty-eight hundred and sixty-five.
2. This act shall be in force from its passage.