Maine Revised Statutes Title 31 Sec. 1042 – Distributions in kind
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Terms Used In Maine Revised Statutes Title 31 Sec. 1042
- Distribution: means a transfer of money or other property from a partnership to a partner in the partner's capacity as a partner or to the partner's transferee. See Maine Revised Statutes Title 31 Sec. 1001
A partner has no right to receive, and may not be required to accept, a distribution in kind. [PL 2005, c. 543, Pt. A, §2 (NEW).]
SECTION HISTORY
PL 2005, c. 543, §A2 (NEW).