California Corporations Code 16402 – A partner has no right to receive, and may not be required to accept, …
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A partner has no right to receive, and may not be required to accept, a distribution in kind.
(Added by Stats. 1996, Ch. 1003, Sec. 2. Effective January 1, 1997.)
Terms Used In California Corporations Code 16402
- Distribution: means a transfer of money or other property from a partnership to a partner in the partner's capacity as a partner or to the partner's transferee. See California Corporations Code 16101