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.
Section: Previous 4-47-502 4-47-503 4-47-504 4-47-505 4-47-506 4-47-507 4-47-508 4-47-509 NextLast modified: November 15, 2016