The Vermont Statutes Online
The Statutes below include the actions of the 2025 session of the General Assembly.
NOTE: The Vermont Statutes Online is an unofficial copy of the Vermont Statutes Annotated that is provided as a convenience.
Subchapter
006
:
DISTRIBUTIONS AND WITHDRAWAL
(Cite as: 11 V.S.A. § 3454)
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§ 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.)