Nevada Revised Statutes 88.515 – Rights upon distribution
Current as of: 2023 | Check for updates
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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.
Terms Used In Nevada Revised Statutes 88.515
- Partner: means a limited or general partner. See Nevada Revised Statutes 88.315
- 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.