Georgia § 14-9A-47 - Withdrawal or reduction of contribution.
Full text of Georgia Official Code of Georgia Annotated § 14-9A-47 — Withdrawal or reduction of contribution., with citation guidance and answers to common questions.
§ 14-9A-47. Withdrawal or reduction of contribution.
A limited partner shall not receive from a general partner or out of partnership property any part of his contribution until: All liabilities of the partnership, except liabilities to general partners and to limited partners on account of their contributions, have been paid or there remains property of the partnership sufficient to pay them; The consent of all members is had, unless the return of the contribution may be rightfully demanded under subsection (b) of this Code section; and The certificate required under Code Section 14-9A-20 is canceled or so amended as to set forth the withdrawal or reduction. Subject to subsection (a) of this Code section a limited partner may rightfully demand the return of his contribution: On the dissolution of a partnership; or When the date specified in the certificate for its return has arrived; or After he has given six months' notice in writing to all other members, if no time is specified in the certificate, either for the return of the contribution or for the dissolution of the partnership. In the absence of any statement in the certificate to the contrary or of the consent of all members, a limited partner, irrespective of the nature of his contribution, has only the right to demand and receive cash in return for his contribution. A limited partner may have the partnership dissolved and its affairs wound up when: He rightfully but unsuccessfully demands the return of his contribution; or The other liabilities of the partnership have not been paid, or the partnership property is insufficient for their payment as required by paragraph (1) of subsection (a) of this Code section and the limited partner would otherwise be entitled to the return of his contribution. (Ga. L. 1952, p. 375, § 16; Code 1981, § 14-9-47; Code 1981, § 14-9A-47 , as redesignated by Ga. L. 1988, p. 1016, § 1.)
Source: official Georgia text · Last verified 2026-08-27
Frequently Asked Questions About Georgia § 14-9A-47
What does Official Code of Georgia Annotated § 14-9A-47 cover?
Section 14-9A-47 ("Withdrawal or reduction of contribution.") is part of the Official Code of Georgia Annotated, the codified statutory law of Georgia. 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 Georgia § 14-9A-47?
A common citation format is "Official Code of Georgia Annotated § 14-9A-47" (Georgia). 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 Georgia law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Georgia official source linked on this page or consult a licensed Georgia attorney.
How does Georgia § 14-9A-47 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Georgia 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 Georgia.