Kansas Statutes Annotated
Updated Through the 2013 Legislative Session

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Statute Number:56-1a354
Chapter Title:PARTNERSHIPS
Article Title:REVISED UNIFORM LIMITED PARTNERSHIP ACT
Tax Type:Corporate Income Tax
Brief Description:Distribution upon withdrawal.
Keywords:


Body:

56-1a354. Distribution upon withdrawal. Except as provided in K.S.A. 56-1a351 through 56-1a358, upon withdrawal any withdrawing partner is entitled to receive any distribution to which the partner is entitled under the partnership agreement. If not otherwise provided in the agreement, the withdrawing partner is entitled to receive, within a reasonable time after withdrawal, the fair value of the partner's interest in the limited partnership as of the date of withdrawal, based upon the partner's right to share in distributions from the limited partnership.
History: L. 1983, ch. 88, 35; July 1.


Date Composed: 04/04/2011 Date Modified: 04/04/2011

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