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.
Conn. Gen. Stat. § 34-20c
Distributions in cash to partner; distributions in kind, when permitted
Known as the The Uniform Limited Partnership Act
The act spans §§ 34–34 (87 sections).
(P.A. 79-440, S. 34; P.A. 86-379, S. 14.) History: P.A. 86-379 changed “certificate of limited partnership” to “partnership agreement”.
Official source: Connecticut General Assembly. Reproduced from public-domain Connecticut statutes; confirm against the official source for the current text. Not legal advice.