ADVOKS GLOBAL · KENYA
Partnerships Act
59. Limited partner’s liability to be limited.
Edition: 2022-12-31 · In force
59. Limited partner’s liability to be limited.
(1)A limited partner shall not be entitled either directly or indirectly to draw out or receive back the whole or part of the capital contribution that the partner has made to the partnership.(2)A limited partner shall not, during the continuance of the partnership, either directly or indirectly draw out or receive back the whole any part of any capital contribution that the partner has made to the partnership.(3)A limited partner who contravenes subsection (2) shall be personally liable for any partnership obligation incurred while he is a limited partner.(4)A limited partner’s liability under subsection (3) exceed the amount drawn out or received back by the partner.(5)In this section, "capital contribution" means a capital contribution consisting of—(a)a sum or sums of money; or(b)property that has an agreed capital value.