New Jersey Statutes 42:2A-44. Right to distribution
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Terms Used In New Jersey Statutes 42:2A-44
- Partner: means a limited or general partner. See New Jersey Statutes 42:2A-5
- 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.
Right to distribution. At the time a partner becomes entitled to receive a distribution, he has the status of, and is entitled to all remedies available to, a creditor of the limited partnership with respect to the distribution.
L. 1983, c. 489, s. 43, eff. April 1, 1985.