Do partners have to refund the principal when they withdraw?
When a partner withdraws from the partnership, he shall be liable for the debts before the withdrawal. According to Article 53 of the Partnership Law of People's Republic of China (PRC), if a general partner withdraws from the partnership, he shall be jointly and severally liable for the partnership debts incurred before his withdrawal. Article 81 stipulates that when a limited partner withdraws from the partnership, he shall be liable for the partnership debts before withdrawing from the partnership with the property he retrieved from the limited partnership at the time of withdrawal. Therefore, whether the partners can return the principal or the equivalent amount after withdrawing from the partnership depends on the operating conditions of the partnership. Article 973 of the Civil Code of People's Republic of China (PRC), which came into effect on 202 1 and 1, stipulates that the partners shall be jointly and severally liable for the partnership debts. Article 973 of the Civil Code of People's Republic of China (PRC) * * * Partners shall be jointly and severally liable for partnership debts. A partner who pays off more than his share of debts has the right to recover from other partners. Article 53 of the Partnership Law of People's Republic of China (PRC) * * * The quitter shall bear unlimited joint and several liability for the debts of the partnership arising from the reasons before his withdrawal. Article 81 of the People's Republic of China (PRC) Partnership Law * * * After a limited partner withdraws from the partnership, he shall be liable for the debts of the limited partnership arising from the reasons before his withdrawal, and shall be liable for the property recovered from the limited partnership when he withdraws from the partnership.