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Code · Illinois · Chapter 805 — BUSINESS ORGANIZATIONS · Act 215

Sec. 506. Distribution in kind.

59 words·~1 min read·/il/chapter-805/act-215/506

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Sec. 506. Distribution in kind. A partner does not have a right to demand or receive any distribution from a limited partnership in any form other than cash. Subject to Section 812(b), a limited partnership may distribute an asset in kind to the extent each partner receives a percentage of the asset equal to the partner's share of distributions.
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