Arizona § 29-347 - Distribution of assets
Full text of Arizona Arizona Revised Statutes § 29-347 — Distribution of assets, with citation guidance and answers to common questions.
§ 29-347. Distribution of assets
Upon the winding up of a limited partnership, the assets shall be distributed as follows:
1. To creditors, including partners who are creditors, to the extent permitted by law, in satisfaction of liabilities of the limited partnership other than liabilities for distributions to partners under section 29-331 or 29-334;
2. Except as provided in the partnership agreement, to partners and former partners in satisfaction of liabilities for distributions under section 29-331 or 29-334; and
3. Except as provided in the partnership agreement, to partners first for the return of their contributions and secondly respecting their partnership interests, in the proportions in which the partners share in distributions.
Source: official Arizona text · Last verified 2026-08-27
Frequently Asked Questions About Arizona § 29-347
What does Arizona Revised Statutes § 29-347 cover?
Section 29-347 ("Distribution of assets") is part of the Arizona Revised Statutes, the codified statutory law of Arizona. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Arizona § 29-347?
A common citation format is "Arizona Revised Statutes § 29-347" (Arizona). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Arizona law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Arizona official source linked on this page or consult a licensed Arizona attorney.
How does Arizona § 29-347 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Arizona can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Arizona.