Connecticut § 34-20a - Sharing of profits and losses by partners.
Full text of Connecticut Connecticut General Statutes § 34-20a — Sharing of profits and losses by partners., with citation guidance and answers to common questions.
§ 34-20a. Sharing of profits and losses by partners.
Sec. 34-20a. Sharing of profits and losses by partners. The profits and losses of a limited partnership shall be allocated among the partners, and among classes of partners, in the manner provided in the partnership agreement. If the partnership agreement does not so provide, profits and losses shall be allocated on the basis of the value, as stated in the partnership agreement, of the contributions made by each partner to the extent they have been received by the partnership and have not been returned.
(P.A. 79-440, S. 28; P.A. 86-379, S. 12.)
History: P.A. 86-379 substituted “partnership agreement” for “certificate of limited partnership”.
See Sec. 34-38b re inapplicability of provisions as amended by P.A. 86-379 to partnerships existing before October 1, 1986.
Source: official Connecticut text · Last verified 2026-08-27
Frequently Asked Questions About Connecticut § 34-20a
What does Connecticut General Statutes § 34-20a cover?
Section 34-20a ("Sharing of profits and losses by partners.") is part of the Connecticut General Statutes, the codified statutory law of Connecticut. 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 Connecticut § 34-20a?
A common citation format is "Connecticut General Statutes § 34-20a" (Connecticut). 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 Connecticut law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Connecticut official source linked on this page or consult a licensed Connecticut attorney.
How does Connecticut § 34-20a apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Connecticut 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 Connecticut.