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2011 Maine Revised Statutes
TITLE 31: PARTNERSHIPS AND ASSOCIATIONS
Chapter 19: UNIFORM LIMITED PARTNERSHIP ACT
31 §1366. Distribution in kind


31 ME Rev Stat § 1366 (2011 through 125th Legis) What's This?

Subchapter 5: CONTRIBUTIONS AND DISTRIBUTIONS HEADING: PL 2005, C. 543, PT. C, §2 (NEW)

§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. [2005, c. 543, Pt. C, §2 (NEW).]

SECTION HISTORY

2005, c. 543, §C2 (NEW).

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