Except as provided in writing 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 writing in the partnership agreement, a partner shall 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 the partner exceeds a percentage of that asset which is equal to the percentage in which the partner shares in distributions from the limited partnership.
[C24, 27, 31, 35, 39, § 9828; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, § 545.23; 82 Acts, ch 1103, § 605]
C93, § 487.605
97 Acts, ch 188, § 36
Previous Section 487.604
Next Section 487.606
© 2004 Cornell College and League of Women Voters of Iowa
Comments about this site or page?
webmaster@legis.iowa.gov.
Please remember that the person listed above does not vote on bills. Direct all comments concerning legislation to State Legislators.
Last update: Thu Jan 15 10:49:41 CST 2004
URL: /DOCS/IACODE/2003SUPPLEMENT/487/605.html
jhf