61-2-606 - Right to distribution. - Tennessee Statutes

61-2-606. Right to distribution.

Subject to §§ 61-2-607 and 61-2-804, and unless otherwise provided in the partnership agreement, at the time a partner becomes entitled to receive a distribution, he has the status of, and is entitled to all remedies available to, a creditor of the limited partnership with respect to the distribution. A partnership agreement may provide for the establishment of a record date with respect to allocations and distributions by a limited partnership.

[Acts 1988, ch. 922, § 1; 1989, ch. 270, §§ 53, 54.]