Vermont § 3442 - Liability for contribution

§ 3442. Liability for contribution

• (a) A promise by a limited partner to contribute to the limited partnership is not enforceable
  unless set out in a writing signed by the limited partner. (b) Except as provided in the partnership agreement, a partner is obligated to the limited
  partnership to perform any enforceable promise to contribute cash or property or to
  perform services, even if he or she is unable to perform because of death, disability,
  or any other reason. If a partner does not make the required contribution of property
  or services, he or she is obligated at the option of the limited partnership to contribute
  cash equal to that portion of the value, as stated in the partnership records required
  to be kept pursuant to section 3405 of this title, of the stated contribution which has not been made. (c) Unless otherwise provided in the partnership agreement, the obligation of a partner
  to make a contribution or return money or other property paid or distributed in violation
  of this chapter may be compromised only by consent of all partners. Notwithstanding
  the compromise, a creditor of a limited partnership who extends credit or otherwise
  acts in reliance on that obligation after the partner signs a writing which reflects
  the obligation and before the amendment or cancellation thereof to reflect the compromise
  may enforce the original obligation. (Added 1997, No. 149 (Adj. Sess.), § 4, eff. Jan. 1, 1999.)