Except as provided in this article, a partner is entitled to receive distributions from a limited partnership before the partner's withdrawal from the limited partnership and before the dissolution and winding up of the partnership subject to the following conditions:
1. To the extent and at the times or upon the happening of the events specified in the partnership agreement.
2. If a distribution is a return of part of the partner's contribution under section 487.608, subsection 2, to the extent and at the times or upon the happening of the events specified in the certificate of limited partnership.
[82 Acts, ch 1103, § 601]
C83, § 545.601 ~IC93, § 487.601
Referred to in § 487.804
© 1997 Cornell College and League of Women Voters of Iowa
Last update: Mon Jan 27 16:05:08 CST 1997