Del. Code tit. 6 § 17-605

Current through 2024 Legislative Session Act Chapter 364

Section 17-605 - Distribution in kind

Except as provided in the partnership agreement, a partner, regardless of the nature of the partner's 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 exceeds a percentage of that asset which is equal to the percentage in which the partner shares in distributions from the limited partnership. Except as provided in the partnership agreement, a partner may 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 is equal to a percentage of that asset which is equal to the percentage in which the partner shares in distributions from the limited partnership.

6 Del. C. § 17-605

6 Del. C. 1953, § 1716; 59 Del. Laws, c. 105, § 1; 63 Del. Laws, c. 420, §1; 65 Del. Laws, c. 188, §1; 69 Del. Laws, c. 258, §37; 70 Del. Laws, c. 186, § 1.;