25.10.486  <<  25.10.491 >>   25.10.496

PDFRCW 25.10.491

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 due and payable to the limited partnership by the partner or dissociated partner on whose account the distribution is made.
[ 2022 c 42 s 203; 2009 c 188 s 507.]