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2019 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-4.08 - Right to distribution.
Universal Citation: AL Code § 10A-8A-4.08 (2019)
Section 10A-8A-4.08Right to distribution.
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.
(Act 2018-125, §7.)
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