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District of Columbia · Through 2026-08-20 (D.C. Law 26-175)

D.C. Code § 29-604.05: Distributions in kind; sharing of and right to distribution before dissolution.

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Where this section sits in the code
  1. Title 29. Business Organizations. [Enacted title]
  2. Chapter 6. General Partnerships.
  3. Subchapter IV. Relations of Partners to Each Other and to Partnership.

(a)

Any distributions made by a partnership before its dissolution and winding up must be in equal shares among partners, except to the extent necessary to comply with a transfer effective under § 29-605.03 or charging order in effect under § 29-605.04.

(b)

A person has a right to a distribution before the dissolution and winding up of a partnership only if the partnership decides to make an interim distribution.

(c)

A person does not have a right to demand or receive a distribution from a partnership in any form other than money. Except as otherwise provided in § 29-608.09, a partnership may distribute an asset in kind only if each part of the asset is fungible with each other part and each person receives a percentage of the asset equal in value to the person’s share of distributions.

(d)

If a partner or transferee becomes entitled to receive a distribution, the partner or transferee has the status of, and is entitled to all remedies available to, a creditor of the partnership with respect to the distribution. However, the partnership’s obligation to make a distribution is subject to offset for any amount owed to the partnership by the partner or a person dissociated as partner on whose account the distribution is made.

Collected 2026-08-29T05:44:07Z. Source file · JSON

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