Virginia § 50-73.40 Distribution in kind

Virginia Statutes

§ 50-73.40 — Distribution in kind

Virginia § 50-73.40

Title 50PARTNERSHIPS

Ch. 2.1VIRGINIA REVISED UNIFORM LIMITED PARTNERSHIP ACT

Art. 6DISTRIBUTIONS AND WITHDRAWAL

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Bluebook

Va. Code Ann. § 50-73.40 (2026).

Text

Except as provided in writing in the partnership agreement, 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. 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 him exceeds a percentage of that asset which is equal to the percentage in which he shares in distributions from the limited partnership.

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Except as provided in writing in the partnership agreement, 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. 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 him exceeds a percentage of that asset which is equal to the percentage in which he shares in distributions from the limited partnership.