51(1)A New Brunswick limited liability partnership shall not make a distribution of partnership property in connection with the winding up of its affairs unless all partnership obligations have been paid or satisfactory provision for their payment has been made.

51(2)In circumstances other than in connection with the winding up of its affairs, a New Brunswick limited liability partnership shall not make a distribution of partnership property if there are reasonable grounds to believe that after the distribution

51(3)Subsection (1) does not prohibit a payment on account of any partnership obligation where a partner in a New Brunswick limited liability partnership receives a prorated payment with all other creditors of the partnership of the same class.

51(4)Subsections (1) and (2) do not prohibit a payment made as reasonable compensation for current services provided by a partner to the New Brunswick limited liability partnership, to the extent that the payment would be reasonable if paid to an employee who was not a partner as compensation for similar services.

51(5)A New Brunswick limited liability partnership may base its determination of whether a distribution is prohibited by subsection (2):