§ 71. Rules for distribution. In settling accounts between the
partners after dissolution, the following rules shall be observed,
subject to any agreement to the contrary:

(a) The assets of the partnership are:

I. The partnership property,

II. The contributions of the partners specified in paragraph (d) of
this subdivision.

(b) The liabilities of the partnership shall rank in order of payment,
as follows:

I. Those owing to creditors other than partners,

II. Those owing to partners other than for capital and profits,

III. Those owing to partners in respect of capital,

IV. Those owing to partners in respect of profits.

(c) The assets shall be applied in the order of their declaration in
clause (a) of this paragraph to the satisfaction of the liabilities.

(d) Except as provided in subdivision (b) of section twenty-six of
this section: (1) partners shall contribute, as provided by section
forty, subdivision one, the amount necessary to satisfy the liabilities;
and (2) if any, but not all, of the partners are insolvent, or, not
being subject to process, refuse to contribute, the other partners shall
contribute their share of the liabilities, and, in the relative
proportions in which they share the profits, the additional amount
necessary to pay the liabilities.

(e) An assignee for the benefit of creditors or any person appointed
by the court shall have the right to enforce the contributions specified
in paragraph (d) of this subdivision.

(f) Any partner or his legal representative shall have the right to
enforce the contributions specified in paragraph (d) of this
subdivision, to the extent of the amount which he has paid in excess of
his share of the liability.

(g) The individual property of a deceased partner shall be liable for
the contributions specified in paragraph (d) of this subdivision.

(h) When partnership property and the individual properties of the
partners are in the possession of a court for distribution, partnership
creditors shall have priority on partnership property and separate
creditors on individual property, saving the rights of lien or secured
creditors as heretofore.

(i) Where a partner has become bankrupt or his estate is insolvent the
claims against his separate property shall rank in the following order:

I. Those owing to separate creditors,

II. Those owing to partnership creditors,

III. Those owing to partners by way of contribution.