35-12-1005. Distributions 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 35-12-1216(2), a limited partnership may distribute an asset in kind to the extent that each partner receives a percentage of the asset equal to the partner's share of distributions.
History: En. Sec. 38, Ch. 522, L. 1981; amd. Sec. 27, Ch. 268, L. 1997; amd. Sec. 45, Ch. 216, L. 2011.
Structure Montana Code Annotated
Title 35. Corporations, Partnerships, and Associations
Chapter 12. Limited Partnerships
Part 10. Distribution and Dissociation
35-12-1001. Interim distributions
35-12-1005. Distributions in kind
35-12-1006. Right to distributions
35-12-1009. No distribution on account of dissociation
35-12-1010. Limitations on distribution
35-12-1011. Liability for improper distributions
35-12-1012. through 35-12-1015 reserved
35-12-1016. Dissociation as limited partner
35-12-1017. Effect of dissociation as limited partner
35-12-1018. Dissociation as general partner
35-12-1019. Person's power to dissociate as general partner -- wrongful dissociation
35-12-1020. Effect of dissociation as general partner
35-12-1022. Liability to other persons of person dissociated as general partner