New Jersey § 42:3-13
Full text of New Jersey New Jersey Statutes § 42:3-13, with citation guidance and answers to common questions.
§ 42:3-13.
A limited partnership association may, from time to time, divide the profits of its
business in such manner and in such an amount as a majority of its managers may determine,
which profits so divided shall not at the time diminish or impair the capital of the
association. Any one consenting to a dividend which shall diminish or impair the capital shall
be liable to any person interested or injured thereby to the amount of such diminution
or impairment.
Frequently Asked Questions About New Jersey § 42:3-13
What does New Jersey Statutes § 42:3-13 cover?
Section 42:3-13 is part of the New Jersey Statutes, the codified statutory law of New Jersey. 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 New Jersey § 42:3-13?
A common citation format is "New Jersey Statutes § 42:3-13" (New Jersey). 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 New Jersey law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New Jersey official source linked on this page or consult a licensed New Jersey attorney.
How does New Jersey § 42:3-13 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New Jersey 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 New Jersey.