Where there are several limited partners, the members may agree that one (1) or more of the limited partners shall have a priority over other limited partners as to the return of their contributions, as to their compensation by way of income, or as to any other matter. If such an agreement is made, it shall be stated in the partnership agreement, and in the absence of such a statement, all the limited partners shall stand upon equal footing.
Structure 2021 Tennessee Code
Chapter 2 - Revised Uniform Limited Partnership Act
Part 6 - Distributions and Withdrawal
§ 61-2-601. Interim Distributions
§ 61-2-602. Withdrawal of General Partner
§ 61-2-603. Withdrawal of Limited Partner
§ 61-2-604. Distribution Upon Withdrawal
§ 61-2-605. Distribution in Kind