(a) A partner's obligation to make a contribution to a partnership is not excused by the partner's death, disability, or other inability to perform personally.
(b) If a partner does not make a contribution required by an enforceable promise, the partner or the partner's estate is obligated, at the election of the partnership, to contribute money equal to the value of the portion of the contribution that has not been made. The foregoing election shall be in addition to, and not in lieu of, any other rights, including the right to specific performance, that the partnership may have under the partnership agreement or applicable law.
(c) The obligation of a partner to make a contribution to a partnership may be compromised only by consent of all partners. A conditional obligation of a partner to make a contribution to a partnership may not be enforced unless the conditions of the obligation have been satisfied or waived as to or by that partner. Conditional obligations include contributions payable upon a discretionary call of a partnership before the time the call occurs.
(d) A creditor of a limited liability partnership which extends credit or otherwise acts in reliance on an obligation described in subsection (a), without notice of any compromise under this subsection, may enforce the original obligation.
(e) A promise by a partner to make a contribution to a partnership is not enforceable unless set forth in a writing signed by the partner.
Structure Code of Alabama
Title 10A - Alabama Business and Nonprofit Entities Code.
Chapter 8A - Alabama Partnership Law
Article 4 - Relations of Partners to Each Other and to Partnership.
Section 10A-8A-4.01 - Partner's Rights and Duties.
Section 10A-8A-4.02 - Admission of Partner.
Section 10A-8A-4.03 - Form of Contribution.
Section 10A-8A-4.04 - Liability for Contribution.
Section 10A-8A-4.05 - Sharing of Distributions Before Dissolution.
Section 10A-8A-4.06 - Interim Distributions.
Section 10A-8A-4.07 - Distribution in Kind.
Section 10A-8A-4.08 - Right to Distribution.
Section 10A-8A-4.09 - Limitations of Distribution and Liability for Improper Distributions.
Section 10A-8A-4.10 - Right of Partner and Former Partner to Information.
Section 10A-8A-4.11 - General Standards of Partner's Conduct.
Section 10A-8A-4.12 - Reliance on Reports and Information.
Section 10A-8A-4.13 - Actions by Partnership and Partners.
Section 10A-8A-4.14 - Continuation of Partnership Beyond Definite Term or Particular Undertaking.