Section 1782.35 | Distributions.
Effective:
July 1, 1994
Latest Legislation:
Senate Bill 74 - 120th General Assembly
Except as provided in writing in the partnership agreement, a partner, regardless of the nature of this contribution, shall have no right to demand and receive any distribution from a limited partnership in any form other than cash. Except as provided in writing 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 or is less than a percentage of that asset that is equal to the percentage in which he shares in distributions from the limited partnership.
Available Versions of this Section
- July 1, 1994 – Senate Bill 74 - 120th General Assembly [ View July 1, 1994 Version ]