Kansas Statutes 56-1a,356. Right to distribution
Current as of: 2023 | Check for updates
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Terms Used In Kansas Statutes 56-1a,356
- 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.
Subject to Kan. Stat. Ann. §§ 56-1a357 and 56-1a454, at the time a partner becomes entitled to receive a distribution, the partner has the status of, and is entitled to all remedies available to, a creditor of the limited partnership with respect to the distribution.