GroundRules
← Search the law
Oregon · Through 2025 Edition

ORS 70.265: Rights of partner regarding distribution; remedies.

Read at publisher ↗
Where this section sits in the code
  1. 02 - Business Organizations, Commercial Code
  2. 7. Corporations and Partnerships
  3. Chapter 70 — Limited Partnerships

(1) Except as provided in writing in the partnership agreement, a partner has no right to demand and receive any distribution from a limited partnership in any form other than cash, regardless of the nature of the partner’s contribution. Except as provided in writing in the partnership agreement, a partner may not be compelled to accept a distribution of any asset in kind from a limited partnership to the extent that the percentage of the asset distributed to the partner exceeds a percentage of that asset that is equal to the percentage in which the partner shares in distributions from the limited partnership.

      (2) When a partner becomes entitled to receive a distribution, the partner has the status of and is entitled to all remedies available to a creditor of the limited partnership with respect to the distribution.

Collected 2026-09-03T23:50:10Z. Source file · JSON

Browse this collection