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2016 Idaho Statutes
Title 53 - PARTNERSHIP
Chapter 2 - UNIFORM LIMITED PARTNERSHIP ACT
Part 5 - CONTRIBUTIONS AND DISTRIBUTIONS
Section 53-2-507 - RIGHT TO DISTRIBUTION.

ID Code § 53-2-507 (2016) What's This?

53-2-507. Right to distribution. When a partner or transferee becomes entitled to receive a distribution, the partner or transferee has the status of, and is entitled to all remedies available to, a creditor of the limited partnership with respect to the distribution. However, the limited partnership's obligation to make a distribution is subject to offset for any amount owed to the limited partnership by the partner or dissociated partner on whose account the distribution is made.

History:
[53-2-507, added 2006, ch. 144, sec. 2, p. 429.]

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