Delaware Code Title 6 Sec. 17-606 – Right to distribution
Current as of: 2023 | Check for updates
|
Other versions
(a) Subject to §§ 17-607 and 17-804 of this title, and unless otherwise provided in the partnership agreement, at the time a partner becomes entitled to receive a distribution, he or she has the status of, and is entitled to all remedies available to, a creditor of the limited partnership with respect to the distribution.
Terms Used In Delaware Code Title 6 Sec. 17-606
- Partner: means a limited or general partner. See Delaware Code Title 6 Sec. 17-101
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Partnership agreement: means any agreement, written, oral or implied, of the partners as to the affairs of a limited partnership and the conduct of its business. See Delaware Code Title 6 Sec. 17-101
(b) A partnership agreement may provide for the establishment of a record date with respect to allocations and distributions by a limited partnership.
6 Del. C. 1953, § ?1716; 59 Del. Laws, c. 105, § ?1; 63 Del. Laws, c. 420, § ?1; 65 Del. Laws, c. 188, § ?1; 66 Del. Laws, c. 316, §§ ?53, 54; 70 Del. Laws, c. 186, § ?1;