Indiana § 23-16-6-3 - Sharing of profits and losses

Full text of Indiana Indiana Code § 23-16-6-3 — Sharing of profits and losses, with citation guidance and answers to common questions.

§ 23-16-6-3. Sharing of profits and losses

Sec. 3. The profits and losses of a limited partnership shall be allocated among the partners, and among classes or groups 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 agreed value (as stated in the records of the limited partnership) of the contributions made by each partner to the extent they have been received by the partnership and have not been returned.

As added by P.L.147-1988, SEC.1.

Source: official Indiana text · Last verified 2026-08-27

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Frequently Asked Questions About Indiana § 23-16-6-3

What does Indiana Code § 23-16-6-3 cover?

Section 23-16-6-3 ("Sharing of profits and losses") is part of the Indiana Code, the codified statutory law of Indiana. 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 Indiana § 23-16-6-3?

A common citation format is "Indiana Code § 23-16-6-3" (Indiana). 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 Indiana law?

No. This page is for research and education and may not include the most recent amendments. For official current law, check the Indiana official source linked on this page or consult a licensed Indiana attorney.

How does Indiana § 23-16-6-3 apply to my situation?

Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Indiana 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 Indiana.