§1366. Distribution in kind
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 section 1402, subsection 2, 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. [PL 2005, c. 543, Pt. C, §2 (NEW).]
SECTION HISTORY
PL 2005, c. 543, §C2 (NEW).
Structure Maine Revised Statutes
TITLE 31: PARTNERSHIPS AND ASSOCIATIONS
Chapter 19: UNIFORM LIMITED PARTNERSHIP ACT
Subchapter 5: CONTRIBUTIONS AND DISTRIBUTIONS
31 §1361. Form of contribution
31 §1362. Liability for contribution
31 §1363. Sharing of distributions
31 §1364. Interim distributions
31 §1365. No distribution on account of dissociation
31 §1366. Distribution in kind
31 §1367. Right to distribution