488.506 - DISTRIBUTION IN KIND. - Iowa Statutes

488.506 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 488.812, 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.          Section History: Recent Form 2004 Acts, ch 1021, §48, 118