A partner does not have a right to demand or receive any distribution from a limited partnership in any form other than cash. Subject to Subsection B of Section 809 [54-2A-809 NMSA 1978] of the Uniform Revised Limited Partnership Act, a limited partnership may distribute an asset in kind to the extent each partner receives a percentage of the asset equal to the partner's share of distributions.
History: Laws 2007, ch. 129, § 506.
Effective dates. — Laws 2007, ch. 129, § 1208 made the section effective January 1, 2008.
Structure 2021 New Mexico Statutes
Article 2A - Uniform Revised Limited Partnership Act
Article 5 - Contributions and Distributions
Section 54-2A-501 - Form of contribution.
Section 54-2A-502 - Liability for contribution.
Section 54-2A-503 - Sharing of distributions.
Section 54-2A-504 - Interim distributions.
Section 54-2A-505 - No distribution on account of dissociation.
Section 54-2A-506 - Distribution in kind.
Section 54-2A-507 - Right to distribution.