Vt. Stat. Ann. tit. 11, § 3452
Withdrawal of general partner
Redline — July 1, 2021 → current.View current text →
Current — June 1, 2022
As of July 1, 2021
A general partner may withdraw from a limited partnership at any time by giving written notice to the other partners, but if the withdrawal violates the partnership agreement, the limited partnership may recover from the withdrawing general partner damages for breach of the partnership agreement and offset the damages against the amount otherwise distributable to him or her.
A general partner may withdraw from a limited partnership at any time by giving written notice to the other partners, but if the withdrawal violates the partnership agreement, the limited partnership may recover from the withdrawing general partner damages for breach of the partnership agreement and offset the damages against the amount otherwise distributable to him or her.
Added 1997, No. 149 (Adj. Sess.), § 4, eff. Jan. 1, 1999.
Official source: Vermont General Assembly. Reproduced from public-domain Vermont statutes; confirm against the official source for the current text. Not legal advice.