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2018 South Carolina Code of Laws
Title 33 - Corporations, Partnerships and Associations
CHAPTER 42 - UNIFORM LIMITED PARTNERSHIP ACT
Section 33-42-1040. Distribution upon withdrawal.
Universal Citation: SC Code § 33-42-1040 (2018)
Except as provided in this chapter, upon withdrawal any withdrawing partner is entitled to receive any distribution to which he is entitled under the partnership agreement and, if not otherwise provided in the agreement, he is entitled to receive, within a reasonable time after withdrawal, the fair value of his interest in the limited partnership as of the date of withdrawal based upon his right to share in distributions from the limited partnership.
HISTORY: 1984 Act No. 491, Section 1; 1985 Act No. 11, Sections 3, 4; 1986 Act No. 533, Section 1.
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