{"data":{"id":"us-ut/utah-code-48-2e-503","jurisdiction":"us-ut","citation":"Utah Code § 48-2e-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 48-2e-702 or charging order in effect under Section 48-2e-703, any distributions made by a limited partnership before its 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) A person does not have a right to demand or receive a distribution from a limited partnership in any form other than money. Except as otherwise provided in Subsection 48-2e-813(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) 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. 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 48 Unincorporated Business Entity Act","Chapter 48-2e Utah Uniform Limited Partnership Act","Part 48-2e-5 Contributions and Distributions"],"source_url":"https://le.utah.gov/xcode/Title48/Chapter2e/48-2e-S503.html","current_through":"2026 General Session","vintage":"","retrieved_at":"2026-09-03T11:34:33Z","sha256":"d8c49e2b91345b04a6dcc1c045c234db832f76446fc86d2d2b84bc07b6f429b8","source_id":"us-ut","stale":false,"prev":"us-ut/utah-code-48-2e-502","next":"us-ut/utah-code-48-2e-504"},"notice":"GroundRules: Original legal text. Not legal advice."}