Cal. Corporations Code § 15905.07

California · California Corporations Code · Status: effective · Effective 2007-01-01

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Citation: Cal. Corporations Code § 15905.07, California, version 1 as recorded 2026-07-25, yourstate.us, https://yourstate.us/provision/792792
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When a partner or transferee becomes entitled to receive a distribution, the partner or transferee has the status of, and is entitled to all remedies available to, a creditor of the limited partnership with respect to the distribution. However, the limited partnership’s obligation to make a distribution is subject to offset for any amount owed to the limited partnership by the partner or dissociated partner on whose account the distribution is made.