362.469 Distribution in kind. Except as provided in writing in the partnership agreement: (1) A partner, regardless of the nature of his contribution, shall not demand or receive any distribution from a limited partnership in any form other than cash. (2) A partner shall not be compell ed to accept a distribution of any asset in kind from a limited partnership to the extent that the percentage of the asset distributed to him exceeds a percentage of that asset which is equal to the percentage in which he shares in distributions from the l imited partnership. Effective: June 26, 2007 History: Repeal the prior repeal contained in 2006 Ky. Acts ch. 149, sec. 239, which was to have been effective January 1, 2008, 2007 Ky. Acts ch. 137, sec. 180, effective June 26, 2007. -- Repealed 2006 Ky. Act s ch. 149, sec. 239, effective January 1, 2008. -- Created 1988 Ky. Acts ch. 284, sec. 35, effective July 15, 1988.
Kentucky Legal Code