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487.601 Interim distributions.

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.

Section History: Early form

[82 Acts, ch 1103, § 601]

Section History: Recent form

C83, § 545.601 ~IC93, § 487.601

Internal References

Referred to in § 487.804

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