Florida § 620.1503 - Sharing of profits, losses, and distributions.
Full text of Florida Florida Statutes § 620.1503 — Sharing of profits, losses, and distributions., with citation guidance and answers to common questions.
§ 620.1503. Sharing of profits, losses, and distributions.
(1) Profits and losses of a limited partnership shall be allocated among the partners on the basis of the value, as stated in the required records when the limited partnership makes the allocations, of the contributions the limited partnership has received from each partner. (2) Distributions by a limited partnership shall be shared by the partners on the basis of the value, as stated in the required records when the limited partnership decides to make the distribution, of the contributions the limited partnership has received from each partner.
Source: official Florida text · Last verified 2026-08-27
Frequently Asked Questions About Florida § 620.1503
What does Florida Statutes § 620.1503 cover?
Section 620.1503 ("Sharing of profits, losses, and distributions.") is part of the Florida Statutes, the codified statutory law of Florida. 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 Florida § 620.1503?
A common citation format is "Florida Statutes § 620.1503" (Florida). 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 Florida law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Florida official source linked on this page or consult a licensed Florida attorney.
How does Florida § 620.1503 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Florida 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 Florida.