Code of Alabama - Title 10A: Alabama Business and Nonprofit Entities Code - Section 10A-9A-5.07 - Right to distribution

Section 10A-9A-5.07 - Right to distribution.

If a partner becomes entitled to receive a distribution, the partner 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.

(Act 2016-379, §1.)

Last modified: May 3, 2021