N.Y. PTR Law § 121-605
This is the official text of N.Y. PTR Law § 121-605, part of New York’s PTR Law — part of the compiled statutory law of New York, published by the state as "PTR Law." Browse the sections below, each linked to its official government source.
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Distribution in kind
Official statutory text
§ 121-605. Distribution in kind. Except as provided in the partnership\nagreement, a partner, regardless of the nature of his contribution, has\nno right to demand and receive any distribution from a limited\npartnership in any form other than cash. Except as provided in the\npartnership agreement, a partner may not be compelled to accept a\ndistribution of any asset in kind from a limited partnership to the\nextent that the percentage of the asset distributed to him exceeds a\npercentage of that asset which is equal to the percentage in which he\nshares in distributions from the limited partnership.\n
Status: in_force · Read it on the official government site
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