A partner does not have a right to demand and receive a distribution from a limited partnership in any form other than money. Except as otherwise provided in Section 10A-9A-8.09(c), a limited partnership may distribute an asset in kind if each partner receives a percentage of the asset in proportion to the partner's share of distributions.
Structure Code of Alabama
Title 10A - Alabama Business and Nonprofit Entities Code.
Chapter 9A - Alabama Limited Partnership Law.
Article 5 - Contributions and Distributions.
Section 10A-9A-5.01 - Form of Contribution.
Section 10A-9A-5.02 - Liability for Contribution.
Section 10A-9A-5.03 - Sharing of Distributions Before Dissolution.
Section 10A-9A-5.04 - Interim Distributions.
Section 10A-9A-5.05 - No Distribution on Account of Dissociation.
Section 10A-9A-5.06 - Distribution in Kind.
Section 10A-9A-5.07 - Right to Distribution.
Section 10A-9A-5.08 - Limitations on Distribution and Liability for Improper Distributions.