{"data":{"id":"us-ut/utah-code-16-19-503","jurisdiction":"us-ut","citation":"Utah Code § 16-19-503","heading":"Sharing of and right to distributions before dissolution.","body":"(1) Except to the extent necessary to comply with a transfer effective under Section 16-19-702 or charging order in effect under Section 16-19-703, any distributions made by a limited partnership before the limited partnership's dissolution and winding up must be in equal shares among partners and persons dissociated as partners.\n(2) A person has a right to a distribution before the dissolution and winding up of a limited partnership only if the limited partnership decides to make an interim distribution. A person's dissociation does not entitle the person to a distribution.\n(3)\n(a) A person does not have a right to demand or receive a distribution from a limited partnership in any form other than money.\n(b) Except as otherwise provided in Subsection 16-19-811(5), 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.\n(4)\n(a) 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 limited partnership with respect to the distribution.\n(b) However, the limited partnership's obligation to make a distribution is subject to offset for any amount owed to the limited partnership by the partner or a person dissociated as a partner on whose account the distribution is made.","path":["Title 16 Business Entities","Chapter 16-19 Utah Uniform Limited Partnership Act","Part 16-19-5 Contributions And Distributions"],"source_url":"https://le.utah.gov/xcode/Title16/Chapter19/16-19-S503.html","current_through":"2026 General Session","vintage":"","retrieved_at":"2026-10-08T05:55:33Z","sha256":"146ff64c8aeda11fbeb8c9c8dc786af75e5055dc79f14f83845eac99a5c6efc3","source_id":"us-ut","stale":false,"prev":"us-ut/utah-code-16-19-502","next":"us-ut/utah-code-16-19-504"},"notice":"GroundRules: Original legal text. Not legal advice."}