§ 15905.06. — 15905.06. (Amended by Stats. 2007, Ch. 130, Sec. 44.)

California § 15905.06.

• Jurisdiction: California
• Code CORP: Corporations Code - CORP
• Title 2.: TITLE 2. PARTNERSHIPS
• Ch. 4.5.: CHAPTER 4.5. Uniform Limited Partnership Act of 2008
• Art. 5.: ARTICLE 5. Contributions and Distributions

Text

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 subdivision (b) of Section 15908.09, a limited partnership may distribute an asset in kind to the extent each partner receives a percentage of the asset equal to the partner’s share of distributions.

Legislative History

Amended by Stats. 2007, Ch. 130, Sec. 44. Effective January 1, 2008.