Indiana § 23-16-9-4 - Distribution of assets
Full text of Indiana Indiana Code § 23-16-9-4 — Distribution of assets, with citation guidance and answers to common questions.
§ 23-16-9-4. Distribution of assets
Sec. 4. 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 (whether by payment or by establishment of adequate reserves) other than liabilities for distributions to partners under IC 23-16-7-1 and IC 23-16-7-4.
(2) Unless otherwise provided in the partnership agreement, to partners and former partners in satisfaction of liabilities for distributions under IC 23-16-7-1 and IC 23-16-7-4.
(3) Unless otherwise provided in the partnership agreement, to partners first for the return of their contributions and second respecting their partnership interests, in the proportions in which the partners share in distributions.
As added by P.L.147-1988, SEC.1.
IC 23-16-10Chapter 10. RepealedRepealed by P.L.118-2017, SEC.77.
IC 23-16-10.1Chapter 10.1. RepealedRepealed by P.L.8-1993, SEC.523.
IC 23-16-11Chapter 11. Derivative Actions
23-16-11-1Right of action 23-16-11-2Proper plaintiff 23-16-11-3Pleading 23-16-11-4Expenses
Source: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 23-16-9-4
What does Indiana Code § 23-16-9-4 cover?
Section 23-16-9-4 ("Distribution of assets") 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 § 23-16-9-4?
A common citation format is "Indiana Code § 23-16-9-4" (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 § 23-16-9-4 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.