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2020 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-4.06 - Interim Distributions.
Universal Citation: AL Code § 10A-8A-4.06 (2020)
Section 10A-8A-4.06
Interim distributions.
Subject to Section 10A-8A-7.01, a partner has a right to a distribution before the dissolution and winding up of a partnership as provided in the partnership agreement. A decision to make a distribution before the dissolution and winding up of the partnership is a decision in the ordinary course of the business or not for profit activity of the partnership.
(Act 2018-125, §7.)
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