Statute · New York Partnership Law
N.Y. P'ship Law § 121-605 — Distribution in kind
N.Y. P'ship Law § 121-605
- Type
- Statute
- Source
- New York Partnership Law
- Jurisdiction
- New York
- Current through
- Nov 4, 2026 (NY Senate Open Legislation)
§ 121-605. Distribution in kind. Except as provided in the partnership agreement, a partner, regardless of the nature of his contribution, has no right to demand and receive any distribution from a limited partnership in any form other than cash. Except as provided in the partnership agreement,…
Citator
N.Y. P'ship Law § 121-605 — Distribution in kind is in force in the current edition of the Code, and nothing recorded condemns it.
§ 121-605. Distribution in kind. Except as provided in the partnership agreement, a partner, regardless of the nature of his contribution, has no right to demand and receive any distribution from a limited partnership in any form other than cash. Except as provided 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.