Limited Partnerships Act 2008

Capital contribution and partnership interest

37 Capital contribution

(1)

The capital contribution of a partner is the share of the assets contributed, or agreed to be contributed, by a partner to the limited partnership or assigned to a partner under section 38(2).

(2)

The capital contribution of a partner may take any form and may be cash, promissory notes, contracts for future services, or real or personal property, and may be made on terms (if any) as provided by the partnership agreement from time to time.

(3)

A loan by a partner to the limited partnership is not a capital contribution.