A partner does not have a right to demand or receive any distribution from a limited partnership in any form other than cash. Subject to section 321.0812(b), a limited partnership may distribute an asset in kind to the extent each partner receives a percentage of the asset equal to the partner's share of distributions.
Minn. Stat. § 321.0506
DISTRIBUTION IN KIND.
Known as the Uniform Limited Partnership Act
The act spans §§ 321–321 (112 sections).
2004 c 199 art 5 s 48
Official source: Minnesota Office of the Revisor of Statutes. Reproduced from public-domain Minnesota statutes; confirm against the official source for the current text. Not legal advice.