CODE OF VIRGINIA

DISTRIBUTION IN KIND (§ 50-73.40)

Except as provided in writing in the partnership agreement, a partner,
regardless of the nature of his contribution, has no right to demand and receive
any distribution from a limited partnership in any form other than cash. Except
as provided 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 exceeds a percentage
of that asset which is equal to the percentage in which he shares in
distributions from the limited partnership.

HISTORY: 1985, c. 607; 1987, c. 702.