South Carolina Code 33-42-1060. Right to distribution
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Terms Used In South Carolina Code 33-42-1060
- Partner: means a limited or general partner. See South Carolina Code 33-42-20
- 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.
At the time a partner becomes entitled to receive a distribution, he has the status of and is entitled to all remedies available to a creditor of the limited partnership with respect to the distribution.