§ 7-62-605 — Distribution in kind

Except as provided in writing in the
partnership agreement, a partner, regardless of the nature of the partner's
contribution, has 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 the partner exceeds a percentage of that asset that is equal to
the percentage in which the partner shares in distributions from the limited
partnership.

Legislative History

Source: L. 81: Entire article added, p. 445, � 1, effective November 1. L. 86: Entire section amended, p. 456, � 27, effective July 1. L. 2004: Entire section amended, p. 1444, � 138, effective July 1.