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Searching 2017-2018 Session

The Vermont Statutes Online

Title 11 : Corporations, Partnerships and Associations

Chapter 023 : LIMITED PARTNERSHIPS

Subchapter 006 : DISTRIBUTIONS AND WITHDRAWAL

(Cite as: 11 V.S.A. § 3454)
  • § 3454. Distribution upon withdrawal

    Except as provided in this subchapter, upon withdrawal any withdrawing partner is entitled to receive any distribution to which he or she is entitled under the partnership agreement and, if not otherwise provided in the agreement, he or she is entitled to receive, within a reasonable time after withdrawal, the fair value of his or her interest in the limited partnership as of the date of withdrawal based upon what a willing buyer would pay a willing seller for the interest, with neither party being under any compulsion to buy or sell his or her right to share in distributions from the limited partnership. (Added 1997, No. 149 (Adj. Sess.), § 4, eff. Jan. 1, 1999.)