When a partner or transferee becomes entitled to receive a distribution, the partner or transferee has the status of, and is entitled to all remedies available to, a creditor of the limited partnership with respect to the distribution. However, the limited partnership's obligation to make a distribution is subject to offset for any amount owed to the limited partnership by the partner or dissociated partner on whose account the distribution is made.
History: Laws 2007, ch. 129, § 507.
Effective dates. — Laws 2007, ch. 129, § 1208 made the section effective January 1, 2008.
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