If no provision relating to the distribution of profits and losses is stated in the partnership agreement, then under RUPA Section 401(b), "each partner is entitled to an equal share of the partnership profits and is chargeable with a share of the partnership losses in proportion to the partner's share of profits."

Question

Quizplus · Accepted Answer

This is the default provision under RUPA Section 401(b) in the absence of any specific provision in the partnership agreement.

If No Provision Relating to the Distribution of Profits and Losses