Maine Statutes
§ 31 §1366 — Distribution 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 section 1402, subsection 2, 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.
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Maine § 31 §1366 (Distribution in kind) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
PL 2005, c. 543, §C2 (NEW).
Nearby Sections
15
§ 31 §1301
Short title§ 31 §1302
Definitions§ 31 §1303
Knowledge and notice§ 31 §1304
Nature, purpose and duration of entity§ 31 §1305
Powers§ 31 §1306
Governing law§ 31 §1308
Limited partnership name; assumed name§ 31 §1311
Required information§ 31 §1313
Dual capacity§ 31 §1314
Registered office; registered agent