Alaska Statutes 32.11.270 – Distribution upon withdrawal
Current as of: 2023 | Check for updates
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Terms Used In Alaska Statutes 32.11.270
- partner: means a limited or general partner. See Alaska Statutes 32.11.900
- 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.
Except as provided in Alaska Stat. § 32.11.240 – 32.11.310, upon withdrawal a withdrawing partner is entitled to receive a distribution to which the withdrawing partner is entitled under the partnership agreement and, if not otherwise provided in the agreement, the withdrawing partner is entitled to receive, within a reasonable time after withdrawal, the fair value of the withdrawing partner’s interest in the limited partnership as of the date of withdrawal based upon the withdrawing partner’s right to share in distributions from the limited partnership.