New York § 121-605 Distribution in kind

New York Statutes

§ 121-605 — Distribution in kind

New York § 121-605

Law PTRPartnership

Art. 8-ARevised Limited Partnership Act

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Bluebook

N.Y. Partnership § 121-605 (2026).

Text

  § 121-605. Distribution in kind. Except as provided in the partnership\nagreement, a partner, regardless of the nature of his contribution, has\nno right to demand and receive any distribution from a limited\npartnership in any form other than cash. Except as provided in the\npartnership agreement, a partner may not be compelled to accept a\ndistribution of any asset in kind from a limited partnership to the\nextent that the percentage of the asset distributed to him exceeds a\npercentage of that asset which is equal to the percentage in which he\nshares in distributions from the limited partnership.\n

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§ 121-605. Distribution in kind. Except as provided in the partnership\nagreement, a partner, regardless of the nature of his contribution, has\nno right to demand and receive any distribution from a limited\npartnership in any form other than cash. Except as provided in the\npartnership agreement, a partner may not be compelled to accept a\ndistribution of any asset in kind from a limited partnership to the\nextent that the percentage of the asset distributed to him exceeds a\npercentage of that asset which is equal to the percentage in which he\nshares in distributions from the limited partnership.\n