[§425E-507] Right to distribution. When a partner or transferee becomes entitled to receive a distribution, the partner or transferee has the status of, and is entitled to all remedies available to, a creditor of the limited partnership with respect to the distribution. However, the limited partnership's obligation to make a distribution is subject to offset for any amount owed to the limited partnership by the partner or dissociated partner on whose account the distribution is made. [L 2003, c 210, pt of §1]
Section: Previous 425e-408 425e-501 425e-502 425e-503 425e-504 425e-505 425e-506 425e-507 425e-508 425e-509 425e-601 425e-602 425e-603 425e-604 425e-605 NextLast modified: October 27, 2016