06. Distribution in kind. A partner shall not have a right to demand or receive any distribution from a limited partnership in any form other than money. Subject to § 29-708.09(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. (July 2, 2011, D.C. Law 18-378, § 2, 58 DCR 1720; Mar. 5, 2013, D.C. Law 19-210, § 2(g)(6)(C), 59 DCR 13171.) Effect of Amendments The 2013 amendment by D.C. Law 19-210 substituted 'money' for 'cash.' Editor's Notes Uniform Law: This section is based on § 506 of the Uniform Limited Partnership Act (2001 Act). Application of Law 19-210: Section 7 of D.C. Law 19-210 provided that the act shall apply as of January 1, 2012.
District of Columbia Legal Code