Utah § 1d-502 - Liability for contribution. (Renumbered 10/1/2026)
Full text of Utah Utah Code § 1d-502 — Liability for contribution. (Renumbered 10/1/2026), with citation guidance and answers to common questions.
§ 1d-502. Liability for contribution. (Renumbered 10/1/2026)
48-1d-502. Liability for contribution.
| (1) | A person's obligation to make a contribution to a partnership is not excused by the person's death, disability, dissolution, or other inability to perform personally. |
| (2) | If a person does not fulfill an obligation to make a contribution other than money, the person is obligated at the option of the partnership to contribute money equal to the value of the part of the contribution which has not been made. |
| (3) | The obligation of a person to make a contribution may be compromised only by consent of all partners. If a creditor of a limited liability partnership extends credit or otherwise acts in reliance on an obligation described in Subsection (1), without notice of a compromise under this Subsection (3), the creditor may enforce the obligation. |
Renumbered and Amended by Chapter 93, 2026 General Session
Enacted by Chapter 412, 2013 General Session
Frequently Asked Questions About Utah § 1d-502
What does Utah Code § 1d-502 cover?
Section 1d-502 ("Liability for contribution. (Renumbered 10/1/2026)") is part of the Utah Code, the codified statutory law of Utah. 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 Utah § 1d-502?
A common citation format is "Utah Code § 1d-502" (Utah). 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 Utah law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Utah official source linked on this page or consult a licensed Utah attorney.
How does Utah § 1d-502 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Utah 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 Utah.