Oregon Revised Statutes Chapter 70 § 70.340 — Distribution of assets
Oregon Revised Statutes Chapter 70 ·
Oregon Code § 70.340·Enacted ·Last updated March 01, 2026
Statute Text
Distribution of assets.
Upon the winding up of a limited partnership, the assets shall be distributed
as follows:
(1) To the extent
permitted by law, to creditors, including partners who are creditors, in
satisfaction of liabilities of the limited partnership other than liabilities
for distributions to partners under ORS 70.250 or 70.260.
(2) Except as
provided in the partnership agreement, to partners and former partners in
satisfaction of liabilities for distributions under ORS 70.250 or 70.260.
(3) Except as
provided in the partnership agreement, to partners as follows:
(a) First, for
the return of their contributions; and
(b) Secondly,
respecting their partnership interests, in the proportions in which the
partners share in distributions. [1985 c.677 §48]
FOREIGN LIMITED
PARTNERSHIPS
Plain English Explanation
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Key Points
01Part of Oregon statutory law
02Referenced as Oregon Code § 70.340
03Subject to legislative amendments
04Consult a licensed attorney for application to specific cases
Frequently Asked Questions
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