State Codes and Statutes

State Codes and Statutes

Statutes > North-carolina > Chapter_59 > GS_59-605

§59‑605.  Distribution in kind.

Except as provided in writingin the limited partnership agreement, (1) a partner, regardless of the natureof his contribution, has no right to demand and receive any distribution from alimited partnership in any form other than cash; and (2) a partner may not becompelled to accept a distribution of any asset in kind from a limitedpartnership to the extent that the percentage of the asset distributed to himexceeds a percentage of that asset which is equal to the percentage in which heshares in distributions from the limited partnership. (1985(Reg. Sess., 1986), c. 989, s. 2.)