D.C. Code § 29-604.05: Distributions in kind; sharing of and right to distribution before dissolution.
Where this section sits in the code
- Title 29. Business Organizations. [Enacted title]
- Chapter 6. General Partnerships.
- 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