42:2A-43. Distribution in cash or kind
Distribution in cash or kind. Except as provided in the certificate of limited partnership, a partner, regardless of the nature of his contribution, has no right to demand and receive any distribution from a limited partnership in any form other than cash. Except as provided in the partnership agreement, a partner may not be compelled to accept a distribution of any asset in kind from a limited partnership to the extent that the percentage of the asset distributed to him exceeds a percentage of that assets which is equal to the percentage in which he shares in distribution from the limited partnership.
L. 1983, c. 489, s. 42, eff. April 1, 1985.
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Last modified: October 11, 2016