Tennessee § 61-2-608 - Priority between limited partners.
Full text of Tennessee Tennessee Code Annotated § 61-2-608 — Priority between limited partners., with citation guidance and answers to common questions.
§ 61-2-608. Priority between limited partners.
Where there are several limited partners, the members may agree that one (1) or more of the limited partners shall have a priority over other limited partners as to the return of their contributions, as to their compensation by way of income, or as to any other matter. If such an agreement is made, it shall be stated in the partnership agreement, and in the absence of such a statement, all the limited partners shall stand upon equal footing. Acts 1988, ch. 922, § 1; T.C.A., § 61-2-609 ; Acts 1989, ch. 270, § 56. Compiler's Notes. Former § 61-2-608 (Acts 1988, ch. 922, § 1), concerning liability upon return of contribution, was repealed by Acts 1989, ch. 270, § 56.
Frequently Asked Questions About Tennessee § 61-2-608
What does Tennessee Code Annotated § 61-2-608 cover?
Section 61-2-608 ("Priority between limited partners.") is part of the Tennessee Code Annotated, the codified statutory law of Tennessee. 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 Tennessee § 61-2-608?
A common citation format is "Tennessee Code Annotated § 61-2-608" (Tennessee). 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 Tennessee law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Tennessee official source linked on this page or consult a licensed Tennessee attorney.
How does Tennessee § 61-2-608 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Tennessee 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 Tennessee.