If a partner becomes entitled to receive a distribution, the partner has the status of, and is entitled to all remedies available to, a creditor of the partnership with respect to the distribution. However, the partnership's obligation to make a distribution is subject to offset for any amount owed to the partnership by the partner or dissociated partner on whose account the distribution is made.
Structure Code of Alabama
Title 10A - Alabama Business and Nonprofit Entities Code.
Chapter 8A - Alabama Partnership Law
Article 4 - Relations of Partners to Each Other and to Partnership.
Section 10A-8A-4.01 - Partner's Rights and Duties.
Section 10A-8A-4.02 - Admission of Partner.
Section 10A-8A-4.03 - Form of Contribution.
Section 10A-8A-4.04 - Liability for Contribution.
Section 10A-8A-4.05 - Sharing of Distributions Before Dissolution.
Section 10A-8A-4.06 - Interim Distributions.
Section 10A-8A-4.07 - Distribution in Kind.
Section 10A-8A-4.08 - Right to Distribution.
Section 10A-8A-4.09 - Limitations of Distribution and Liability for Improper Distributions.
Section 10A-8A-4.10 - Right of Partner and Former Partner to Information.
Section 10A-8A-4.11 - General Standards of Partner's Conduct.
Section 10A-8A-4.12 - Reliance on Reports and Information.
Section 10A-8A-4.13 - Actions by Partnership and Partners.
Section 10A-8A-4.14 - Continuation of Partnership Beyond Definite Term or Particular Undertaking.