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Utah · Through 2026 General Session

Utah Code § 48-1d-503: Sharing of and right to distributions before dissolution.

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Where this section sits in the code
  1. Title 48 Unincorporated Business Entity Act
  2. Chapter 48-1d Utah Uniform Partnership Act
  3. Part 48-1d-5 Contributions and Distributions

(1) 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 Section 48-1d-603 or charging order in effect under Section 48-1d-604.

(2) 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.

(3) 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 Section 48-1d-906, 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.

(4) 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 2026-09-03T11:34:33Z. Source file · JSON

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