Clickable Image

     35-12-1005. Distributions in kind. A partner does not have a right to demand or receive any distribution from a limited partnership in any form other than cash. Subject to 35-12-1216(2), a limited partnership may distribute an asset in kind to the extent that each partner receives a percentage of the asset equal to the partner's share of distributions.

     History: En. Sec. 38, Ch. 522, L. 1981; amd. Sec. 27, Ch. 268, L. 1997; amd. Sec. 45, Ch. 216, L. 2011.

Previous Section MCA Contents Part Contents Search Help Next Section