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 Subsection B of Section 809 [ 54-2A-809 NMSA 1978] of the Uniform Revised Limited Partnership Act, 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.
§ 54-2A-506 NMSA 1978
Distribution in kind
Known as the Uniform Revised Limited Partnership Act
The act spans §§ 54–54 (104 sections).
Laws 2007, ch. 129, § 506.
Official source: NMOneSource (New Mexico Compilation Commission). Reproduced from public-domain New Mexico statutes; confirm against the official source for the current text. Not legal advice.