Maine § 31 §1367 Right to distribution

Maine Statutes

§ 31 §1367 — Right to distribution

Maine § 31 §1367

Title 31PARTNERSHIPS AND ASSOCIATIONS

Ch. 19UNIFORM LIMITED PARTNERSHIP ACT

This text of Maine § 31 §1367 (Right to distribution) is published on Counsel Stack Legal Research, covering Maine primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Me. Rev. Stat. tit. 31, § 31 §1367 (2026).

Text

When a partner or transferee becomes entitled to receive a distribution, the partner or transferee has the status of, and is entitled to all remedies available to, a creditor of the limited partnership with respect to the distribution. However, the limited partnership's obligation to make a distribution is subject to offset for any amount owed to the limited partnership by the partner or dissociated partner on whose account the distribution is made.

Free access — add to your briefcase to read the full text and ask questions with AI

When a partner or transferee becomes entitled to receive a distribution, the partner or transferee has the status of, and is entitled to all remedies available to, a creditor of the limited partnership with respect to the distribution. However, the limited partnership's obligation to make a distribution is subject to offset for any amount owed to the limited partnership by the partner or dissociated partner on whose account the distribution is made.