42:2A-43 - Distribution in cash or kind - New-jersey Statutes

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Statutes > New-jersey > Title-42 > Section-42-2a > 42-2a-43

42:2A-43.    Distribution in cash or kind
    Distribution in cash or kind. Except as provided in the certificate of limited partnership, a partner, regardless of the nature of his 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 to him exceeds a percentage of that assets which is equal to the percentage in which he shares in distribution from the limited partnership.

   L. 1983, c. 489, s. 42, eff. April 1, 1985.

State Codes and Statutes

Statutes > New-jersey > Title-42 > Section-42-2a > 42-2a-43

42:2A-43.    Distribution in cash or kind
    Distribution in cash or kind. Except as provided in the certificate of limited partnership, a partner, regardless of the nature of his 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 to him exceeds a percentage of that assets which is equal to the percentage in which he shares in distribution from the limited partnership.

   L. 1983, c. 489, s. 42, eff. April 1, 1985.

State Codes and Statutes

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State Codes and Statutes

Statutes > New-jersey > Title-42 > Section-42-2a > 42-2a-43

42:2A-43.    Distribution in cash or kind
    Distribution in cash or kind. Except as provided in the certificate of limited partnership, a partner, regardless of the nature of his 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 to him exceeds a percentage of that assets which is equal to the percentage in which he shares in distribution from the limited partnership.

   L. 1983, c. 489, s. 42, eff. April 1, 1985.