Ala. Code § 10A-8A-4.08

Current with legislation from 2024 effective through May 17, 2024.
Section 10A-8A-4.08 - Right to distribution

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

Ala. Code § 10A-8A-4.08 (1975)

Added by Act 2018-125,§ 7, eff. 1/1/2019.