GEORGIA CODE (Last Updated: August 20, 2013) |
Title 14. CORPORATIONS, PARTNERSHIPS, AND ASSOCIATIONS |
Chapter 9. REVISED UNIFORM LIMITED PARTNERSHIP ACT |
Article 6. DISTRIBUTIONS AND WITHDRAWAL |
Section 14-9-605. Form of distribution
Latest version.
- Except as provided in writing in the partnership agreement, a partner, regardless of the nature of his contribution, has no right to demand or to receive any distribution from a limited partnership in any form other than cash. Except as provided in writing in the partnership agreement, a partner may not be compelled to accept a distribution of any asset in kind from a limited partnership to the extent that the percentage of the asset distributed to him exceeds a percentage of that asset which is equal to the percentage in which he shares in distributions from the limited partnership.
Code 1981, § 14-9-605, enacted by Ga. L. 1988, p. 1016, § 1.