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N.Y. Partnership Law § 121-604

Right to distribution upon withdrawal

2014-09-22

§ 121-604. Right to distribution upon withdrawal. Except as provided\nin this article upon withdrawal any withdrawing partner is entitled to\nreceive any distribution to which he is entitled under the partnership\nagreement and, if not otherwise provided in the partnership agreement,\nhe is entitled to receive, within a reasonable time after withdrawal,\nthe fair value of his interest in the limited partnership as of the date\nof withdrawal based upon his right to share in distributions from the\nlimited partnership.\n

Official source: NYS Open Legislation (New York State Senate). Reproduced from public-domain New York statutes; confirm against the official source for the current text. Not legal advice.