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. § 3455)
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§ 3455. Distribution in kind
Except as provided in writing in the partnership agreement, a partner, regardless
of the nature of his or her contribution, has no right to demand and receive any distribution
from a limited partnership in any form other than cash. Except as provided in writing
in the partnership agreement, a partner may not be compelled to accept a distribution
of any asset in kind from a limited partnership to the extent that the percentage
of the asset distributed to him or her exceeds a percentage of that asset which is
equal to the percentage in which he or she shares in distributions from the limited
partnership. (Added 1997, No. 149 (Adj. Sess.), § 4, eff. Jan. 1, 1999.)