§ 17-606 — Right to distribution

(a) Subject to §§ 17-607 and 17-804 of this title, and unless otherwise provided in the partnership agreement, at the time a partner becomes entitled to receive a distribution, he or she has the status of, and is entitled to all remedies available to, a creditor of the limited partnership with respect to the distribution.

(b) A partnership agreement may provide for the establishment of a record date with respect to allocations and distributions by a limited partnership.

Legislative History

6 Del. C. 1953, § 1716; 59 Del. Laws, c. 105, § 1 ; 63 Del. Laws, c. 420, § 1 ; 65 Del. Laws, c. 188, § 1 ; 66 Del. Laws, c. 316, §§ 53, 54 ; 70 Del. Laws, c. 186, § 1