Indiana Statutes
§ 23-16-7-5 — Distribution in kind
Indiana·Title 23 BUSINESS AND OTHER ASSOCIATIONS·Art. 16 LIMITED PARTNERSHIPS·Ch. 7 Distributions and Withdrawals
(a)Except as provided 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.
(b)Except as provided 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.
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Legislative History
As added by P.L.147-1988, SEC.1.
Nearby Sections
15
§ 23-0.5-1-1
Short title§ 23-0.5-1-2
Application§ 23-0.5-1-3
Application; exceptions§ 23-0.5-1-4
Delivery of record§ 23-0.5-1-5
Rules and procedures§ 23-0.5-1-6
Terms dependent on facts ascertainable outside the plan or filed
document; articles of amendment§ 23-0.5-1.5-1
Application of definitions§ 23-0.5-1.5-10
"Filed record"§ 23-0.5-1.5-11
"Filing entity"§ 23-0.5-1.5-12
"Foreign"§ 23-0.5-1.5-13
"General partnership"§ 23-0.5-1.5-14
"Governance interest"§ 23-0.5-1.5-15
"Governing person"§ 23-0.5-1.5-16
"Interest"§ 23-0.5-1.5-17
"Interest holder"