KRS 362.493: Distribution of assets.

Upon the winding up of a limited partnership, the assets shall be distributed as follows:

(1) To creditors, including partners who are creditors, to the extent permitted by law, in

satisfaction of liabilities of the limited partnership, other than liabilit ies for

distributions to partners under KRS 362.403 to 362.525;

(2) Except as otherwise provided in the partnership agreement, to partners and former

partners in satisfaction of liabilities for distributions under KRS 362.403 to

362.525; and

(3) Except as otherwise provided in the partnership agreement, to partners first for the

return of their contributions and secondly, respecting their partnership interests, in

the proportions in which the partners share in distributions.