Kansas Statutes 56-1a,351. Interim distributions
Current as of: 2023 | Check for updates
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Terms Used In Kansas Statutes 56-1a,351
- Partner: means a limited or general partner. See Kansas Statutes 56-1a,101
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Partnership agreement: means any valid written or oral agreement of the partners as to the affairs of a limited partnership and the conduct of its business. See Kansas Statutes 56-1a,101
Except as provided in Kan. Stat. Ann. §§ 56-1a351 through 56-1a358, and amendments thereto, a partner is entitled to receive distributions from a limited partnership before the partner’s withdrawal from the limited partnership and before the partnership’s dissolution and the winding up of the partnership’s affairs to the extent and at the times or upon the happening of the events specified in the partnership agreement.