North Carolina Statutes
§ 59-605 — Distribution in kind
Except as provided in writing in the limited partnership agreement, (1) a partner, regardless of the nature of his contribution, has no right to demand and receive any distribution from a limited partnership in any form other than cash; and (2) 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 him exceeds a percentage of that asset which is equal to the percentage in which he shares in distributions from the limited partnership. (1985 (Reg. Sess., 1986), c. 989, s. 2.)
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Nearby Sections
15
§ 59-1001
Right of action§ 59-1002
Proper plaintiff§ 59-1003
Pleading§ 59-1004
Expenses§ 59-1005
Dismissal of action§ 59-1006
Construction§ 59-101
Short title§ 59-102
Definitions§ 59-103
Name§ 59-1050
Conversion§ 59-1051
Plan of conversion§ 59-1053
Effects of conversion