53-2-507 RIGHT TO DISTRIBUTION. - Idaho Statutes

TITLE 53

PARTNERSHIP

CHAPTER 2

UNIFORM LIMITED PARTNERSHIP ACT

PART 5

CONTRIBUTIONS AND DISTRIBUTIONS

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.