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<law><site_title>Virginia Decoded</site_title><site_url>https://vacode.org</site_url><law_id>68308</law_id><section_number>50-73.40</section_number><catch_line>Distribution in kind</catch_line><edition url="https://vacode.org/2025/" slug="2025" current="TRUE" last_updated="">2025</edition><structure><unit label="title" level="1" order_by="1" identifier="50">Partnerships</unit><unit label="chapter" level="2" order_by="1" identifier="2.1">Virginia Revised Uniform Limited Partnership Act</unit><unit label="article" level="3" order_by="1" identifier="6">Distributions and Withdrawal</unit></structure><text>
						<section><p>Except as provided in writing in the <span class="dictionary">partnership agreement</span>, a <span class="dictionary">partner</span>, regardless of the nature of his <span class="dictionary">contribution</span>, has no right to demand and receive any distribution from a <span class="dictionary">limited partnership</span> in any form other than cash. Except as provided in the <span class="dictionary">partnership agreement</span>, a <span class="dictionary">partner</span> may not be compelled to accept a distribution of any asset in kind from a <span class="dictionary">limited partnership</span> to the extent that the percentage of the asset distributed to him exceeds a percentage of that asset which is equal to the percentage in which he shares in distributions from the <span class="dictionary">limited partnership</span>.</p></section></text><history>1985, c. 607; 1987, c. 702.</history><metadata></metadata></law>
