§ 50-73.40. Distribution in kind
Except as provided in writing in the partnership agreement, 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 asset which is equal to the percentage in which he shares in distributions from the limited partnership.
(1985, c. 607; 1987, c. 702.)
Sections: Previous 50-73.34 50-73.35 50-73.36 50-73.37 50-73.38 50-73.39 50-73.39:1 50-73.40 50-73.41 50-73.42 50-73.43 50-73.44 50-73.45 50-73.46 50-73.46:1 NextLast modified: April 3, 2009