Section 10-9C-506 (Effective January 1, 2010) Distribution in kind. - Alabama Statutes

Section 10-9C-506

(Effective January 1, 2010) 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 10-9C-812(b), 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.

(Act 2009-621, §1.)