Kansas Statutes Annotated
Updated Through the 2013 Legislative Session

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Statute Number:56-1a355
Chapter Title:PARTNERSHIPS
Article Title:REVISED UNIFORM LIMITED PARTNERSHIP ACT
Tax Type:Corporate Income Tax
Brief Description:Distribution in kind.
Keywords:


Body:

56-1a355. Distribution in kind. Except as provided in writing in the partnership agreement, a partner, regardless of the nature of the partner's contribution, has no right to demand and receive any distribution from a limited partnership in any form other than cash. Except as provided in writing in the partnership agreement, a partner may not be compelled to accept a distribution of any asset in kind from a limited partnership to the extent that the percentage of the asset distributed to the partner exceeds a percentage of that asset which is equal to the percentage in which the partner shares in distributions from the limited partnership.
History: L. 1983, ch. 88, 36;L. 1993, ch. 157, 4; July 1.


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

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