reglab/housing_qa huggingface dataset:
MT Code § 35-12-1002 (2021)
2021 Montana Code Annotated|Title 35. Corporations, Partnerships, and Associations|Chapter 12. Limited Partnerships|Part 10. Distribution and Dissociation|35-12-1002. Repealed

  35-12-1002. Repealed. Sec. 97, Ch. 216, L. 2011.   History: En. Sec. 35, Ch. 522, L. 1981; amd. Sec. 1308, Ch. 56, L. 2009.
MT Code § 35-12-1003 (2021)
2021 Montana Code Annotated|Title 35. Corporations, Partnerships, and Associations|Chapter 12. Limited Partnerships|Part 10. Distribution and Dissociation|35-12-1003. Repealed

  35-12-1003. Repealed. Sec. 97, Ch. 216, L. 2011.   History: En. Sec. 36, Ch. 522, L. 1981; amd. Sec. 25, Ch. 268, L. 1997.
MT Code § 35-12-1004 (2021)
2021 Montana Code Annotated|Title 35. Corporations, Partnerships, and Associations|Chapter 12. Limited Partnerships|Part 10. Distribution and Dissociation|35-12-1004. Repealed

  35-12-1004. Repealed. Sec. 97, Ch. 216, L. 2011.   History: En. Sec. 37, Ch. 522, L. 1981; amd. Sec. 26, Ch. 268, L. 1997.
MT Code § 35-12-1005 (2021)
2021 Montana Code Annotated|Title 35. Corporations, Partnerships, and Associations|Chapter 12. Limited Partnerships|Part 10. Distribution and Dissociation|35-12-1005. Distributions in kind

  35-12-1005. Distributions in kind. A partner does not have a right to demand or receive any distribution from a limited partnership in any form other than cash. Subject to 35-12-1216(2), a limited partnership may distribute an asset in kind to the extent that each partner receives a percentage of the asset equal to the partner's share of distributions.   History: En. Sec. 38, Ch. 522, L. 1981; amd. Sec. 27, Ch. 268, L. 1997; amd. Sec. 45, Ch. 216, L. 2011.
MT Code § 35-12-1006 (2021)
2021 Montana Code Annotated|Title 35. Corporations, Partnerships, and Associations|Chapter 12. Limited Partnerships|Part 10. Distribution and Dissociation|35-12-1006. Right to distributions

  35-12-1006. Right to distributions. When a partner or transferee becomes entitled to receive a distribution, the partner or transferee has the status of and is entitled to all of the 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.   History: En. Sec. 39, Ch. 522, L. 1981; amd. Sec. 1309, Ch. 56, L. 2009; amd. Sec. 46, Ch. 216, L. 2011.
MT Code § 35-12-1007 (2021)
2021 Montana Code Annotated|Title 35. Corporations, Partnerships, and Associations|Chapter 12. Limited Partnerships|Part 10. Distribution and Dissociation|35-12-1007. Repealed

  35-12-1007. Repealed. Sec. 97, Ch. 216, L. 2011.   History: En. Sec. 40, Ch. 522, L. 1981.
MT Code § 35-12-1008 (2021)
2021 Montana Code Annotated|Title 35. Corporations, Partnerships, and Associations|Chapter 12. Limited Partnerships|Part 10. Distribution and Dissociation|35-12-1008. Repealed

  35-12-1008. Repealed. Sec. 97, Ch. 216, L. 2011.   History: En. Sec. 41, Ch. 522, L. 1981; amd. Sec. 28, Ch. 268, L. 1997.
MT Code § 35-12-1009 (2021)
2021 Montana Code Annotated|Title 35. Corporations, Partnerships, and Associations|Chapter 12. Limited Partnerships|Part 10. Distribution and Dissociation|35-12-1009. No distribution on account of dissociation

  35-12-1009. No distribution on account of dissociation. A person does not have a right to receive a distribution on account of dissociation.   History: En. Sec. 44, Ch. 216, L. 2011.
MT Code § 35-12-1010 (2021)
2021 Montana Code Annotated|Title 35. Corporations, Partnerships, and Associations|Chapter 12. Limited Partnerships|Part 10. Distribution and Dissociation|35-12-1010. Limitations on distribution

  35-12-1010. Limitations on distribution. (1) A limited partnership may not make a distribution in violation of the partnership agreement.   (2) A limited partnership may not make a distribution if after the distribution:   (a) the limited partnership would not be able to pay its debts as they become due in the ordinary course of the limited partnership's activities; or   (b) the limited partnership's total assets would be less than the sum of its total liabilities plus the amount that would be needed, if the limited partnership were to be dissolved, wound up, and terminated at the time of the distribution, to satisfy the preferential rights upon dissolution, winding up, and termination of partners whose preferential rights are superior to those of persons receiving the distribution.   (3) A limited partnership may base a determination that a distribution is not prohibited under subsection (2) on financial statements prepared on the basis of accounting practices and principles that are reasonable in the circumstances or on a fair valuation or other method that is reasonable in the circumstances.   (4) Except as otherwise provided in subsection (7), the effect of a distribution under subsection (2) is measured:   (a) in the case of distribution by purchase, redemption, or other acquisition of a transferable interest in the limited partnership, as of the date money or other property is transferred or debt is incurred by the limited partnership; and   (b) in all other cases, as of the date:   (i) the distribution is authorized if the payment occurs within 120 days after that date; or   (ii) the payment is made if payment occurs more than 120 days after the distribution is authorized.   (5) A limited partnership's indebtedness to a partner incurred by reason of a distribution made in accordance with this section is at parity with the limited partnership's indebtedness to its general, unsecured creditors.   (6) A limited partnership's indebtedness, including indebtedness issued in connection with or as part of a distribution, is not considered a liability for purposes of subsection (2) if the terms of the indebtedness provide that payment of principal and interest are made only to the extent that a distribution could then be made to partners under this section.   (7) If indebtedness is issued as a distribution, each payment of principal or interest on the indebtedness is treated as a distribution, the effect of which is measured on the date the payment is made.   History: En. Sec. 47, Ch. 216, L. 2011.
MT Code § 35-12-1011 (2021)
2021 Montana Code Annotated|Title 35. Corporations, Partnerships, and Associations|Chapter 12. Limited Partnerships|Part 10. Distribution and Dissociation|35-12-1011. Liability for improper distributions

  35-12-1011. Liability for improper distributions. (1) A general partner that consents to a distribution made in violation of 35-12-1010 is personally liable to the limited partnership for the amount of the distribution that exceeds the amount that could have been distributed without the violation if it is established that in consenting to the distribution the general partner failed to comply with 35-12-811.   (2) A partner or transferee that received a distribution knowing that the distribution to that partner or transferee was made in violation of 35-12-1010 is personally liable to the limited partnership but only to the extent that the distribution received by the partner or transferee exceeded the amount that could have been properly paid under 35-12-1010.   (3) A general partner against which an action is commenced under subsection (1) may:   (a) implead in the action any other person that is liable under subsection (1) and compel contribution from the person; and   (b) implead in the action any person that received a distribution in violation of subsection (2) and compel contribution from the person in the amount the person received in violation of subsection (2).   (4) An action under this section is barred if it is not commenced within 2 years after the distribution.   History: En. Sec. 48, Ch. 216, L. 2011.
MT Code § 35-12-1012 (2021)
2021 Montana Code Annotated|Title 35. Corporations, Partnerships, and Associations|Chapter 12. Limited Partnerships|Part 10. Distribution and Dissociation|35-12-1012. through 35-12-1015 reserved

  35-12-1012 through 35-12-1015 reserved.
MT Code § 35-12-1017 (2021)
2021 Montana Code Annotated|Title 35. Corporations, Partnerships, and Associations|Chapter 12. Limited Partnerships|Part 10. Distribution and Dissociation|35-12-1017. Effect of dissociation as limited partner

  35-12-1017. Effect of dissociation as limited partner. (1) Upon a person's dissociation as a limited partner:   (a) subject to 35-12-1105, the person does not have further rights as a limited partner;   (b) the person's obligation of good faith and fair dealing as a limited partner under 35-12-707(2) continues only as to matters arising and events occurring before the dissociation; and   (c) subject to 35-12-1105 and Title 35, chapter 12, part 15, any transferable interest owned by the person in the person's capacity as a limited partner immediately before dissociation is owned by the person as a mere transferee.   (2) A person's dissociation as a limited partner does not of itself discharge the person from any obligation to the limited partnership or the other partners that the person incurred while a limited partner.   History: En. Sec. 50, Ch. 216, L. 2011.
MT Code § 35-12-1019 (2021)
2021 Montana Code Annotated|Title 35. Corporations, Partnerships, and Associations|Chapter 12. Limited Partnerships|Part 10. Distribution and Dissociation|35-12-1019. Person's power to dissociate as general partner -- wrongful dissociation

  35-12-1019. Person's power to dissociate as general partner -- wrongful dissociation. (1) A person has the power to dissociate as a general partner at any time, rightfully or wrongfully, by express will pursuant to 35-12-1018(1).   (2) A person's dissociation as a general partner is wrongful only if:   (a) it is in breach of an express provision of the partnership agreement; or   (b) it occurs before the termination of the limited partnership and:   (i) the person withdraws as a general partner by express will;   (ii) the person is expelled as a general partner by judicial determination under 35-12-1018(5);   (iii) the person is dissociated as a general partner by becoming a debtor in bankruptcy; or   (iv) in the case of a person that is not an individual, trust other than a business trust, or estate, the person is expelled or otherwise dissociated as a general partner because it willfully dissolved or terminated.   (3) A person that wrongfully dissociates as a general partner is liable to the limited partnership and, subject to 35-12-1405, to the other partners for damages caused by the dissociation. The liability is in addition to any other obligation of the general partner to the limited partnership or to the other partners.   History: En. Sec. 52, Ch. 216, L. 2011.
MT Code § 35-12-1020 (2021)
2021 Montana Code Annotated|Title 35. Corporations, Partnerships, and Associations|Chapter 12. Limited Partnerships|Part 10. Distribution and Dissociation|35-12-1020. Effect of dissociation as general partner

  35-12-1020. Effect of dissociation as general partner. (1) Upon a person's dissociation as a general partner:   (a) the person's right to participate as a general partner in the management and conduct of the partnership's activities terminates;   (b) the person's duty of loyalty as a general partner under 35-12-811(2)(c) terminates;   (c) the person's duty of loyalty as a general partner under 35-12-811(2)(a) and (2)(b) and duty of care under 35-12-811(3) continue only with regard to matters arising and events occurring before the person's dissociation as a general partner;   (d) the person may sign and deliver to the secretary of state for filing a statement of dissociation pertaining to the person and, at the request of the limited partnership, shall sign an amendment to the certificate of limited partnership that states that the person has dissociated; and   (e) subject to 35-12-1105 and Title 35, chapter 12, part 15, any transferable interest owned by the person immediately before dissociation in the person's capacity as a general partner is owned by the person as a mere transferee.   (2) A person's dissociation as a general partner does not of itself discharge the person from any obligation to the limited partnership or the other partners that the person incurred while a general partner.   History: En. Sec. 53, Ch. 216, L. 2011.
MT Code § 35-12-1021 (2021)
2021 Montana Code Annotated|Title 35. Corporations, Partnerships, and Associations|Chapter 12. Limited Partnerships|Part 10. Distribution and Dissociation|35-12-1021. Power to bind and liability to limited partnership before dissolution of partnership of person dissociated as general partner

  35-12-1021. Power to bind and liability to limited partnership before dissolution of partnership of person dissociated as general partner. (1) After a person is dissociated as a general partner and before the limited partnership is dissolved, converted under Title 35, chapter 12, part 15, or merged out of existence under Title 35, chapter 12, part 15, the limited partnership is bound by an act of the person only if:   (a) the act would have bound the limited partnership under 35-12-806 before the dissociation; and   (b) at the time the other party enters into the transaction:   (i) less than 2 years has passed since the dissociation; and   (ii) the other party does not have notice of the dissociation and reasonably believes that the person is a general partner.   (2) If a limited partnership is bound under subsection (1), the person dissociated as a general partner that caused the limited partnership to be bound is liable:   (a) to the limited partnership for any damage caused to the limited partnership arising from the obligation incurred under subsection (1); and   (b) if a general partner or another person dissociated as a general partner is liable for the obligation, to the general partner or other person for any damage caused to the general partner or other person arising from the liability.   History: En. Sec. 54, Ch. 216, L. 2011.
MT Code § 35-12-1022 (2021)
2021 Montana Code Annotated|Title 35. Corporations, Partnerships, and Associations|Chapter 12. Limited Partnerships|Part 10. Distribution and Dissociation|35-12-1022. Liability to other persons of person dissociated as general partner

  35-12-1022. Liability to other persons of person dissociated as general partner. (1) A person's dissociation as a general partner does not of itself discharge the person's liability as a general partner for an obligation of the limited partnership incurred before dissociation. Except as otherwise provided in subsections (2) and (3), the person is not liable for a limited partnership's obligation incurred after dissociation.   (2) A person whose dissociation as a general partner resulted in a dissolution and winding up of the limited partnership's activities is liable to the same extent as a general partner under 35-12-803 on an obligation incurred by the limited partnership under 35-12-1211.   (3) A person that has dissociated as a general partner but whose dissociation did not result in a dissolution and winding up of the limited partnership's activities is liable on a transaction entered into by the limited partnership after the dissociation only if:   (a) a general partner would be liable on the transaction; and   (b) at the time the other party enters into the transaction:   (i) less than 2 years has passed since the dissociation; and   (ii) the other party does not have notice of the dissociation and reasonably believes that the person is a general partner.   (4) By agreement with a creditor of a limited partnership and the limited partnership, a person dissociated as a general partner may be released from liability for an obligation of the limited partnership.   (5) A person dissociated as a general partner is released from liability for an obligation of the limited partnership if the limited partnership's creditor, with notice of the person's dissociation as a general partner but without the person's consent, agrees to a material alteration in the nature or time of payment of the obligation.   History: En. Sec. 55, Ch. 216, L. 2011.
MT Code § 35-12-1101 (2021)
2021 Montana Code Annotated|Title 35. Corporations, Partnerships, and Associations|Chapter 12. Limited Partnerships|Part 11. Assignment of Partnership Interests|35-12-1101. Repealed

  35-12-1101. Repealed. Sec. 97, Ch. 216, L. 2011.   History: En. Sec. 42, Ch. 522, L. 1981.
MT Code § 35-12-1102 (2021)
2021 Montana Code Annotated|Title 35. Corporations, Partnerships, and Associations|Chapter 12. Limited Partnerships|Part 11. Assignment of Partnership Interests|35-12-1102. Repealed

  35-12-1102. Repealed. Sec. 97, Ch. 216, L. 2011.   History: En. Sec. 43, Ch. 522, L. 1981; amd. Sec. 1310, Ch. 56, L. 2009.
MT Code § 35-12-1103 (2021)
2021 Montana Code Annotated|Title 35. Corporations, Partnerships, and Associations|Chapter 12. Limited Partnerships|Part 11. Assignment of Partnership Interests|35-12-1103. Rights of creditors of partner or transferee

  35-12-1103. Rights of creditors of partner or transferee. (1) On application to a court of competent jurisdiction by any judgment creditor of a partner or transferee, the court may charge the transferable interest of the judgment debtor with payment of the unsatisfied amount of the judgment, with interest. To the extent charged, the judgment creditor has only the rights of a transferee. The court may appoint a receiver of the share of the distributions due or to become due to the judgment debtor in respect of the partnership and make all other orders, directions, accounts, and inquiries that the judgment debtor might have made or that the circumstances of the case may require to give effect to the charging order.   (2) A charging order constitutes a lien on the judgment debtor's transferable interest. The court may order a foreclosure upon the interest subject to the charging order at any time. The purchaser at the foreclosure sale has the rights of a transferee.   (3) At any time before foreclosure, an interest charged may be redeemed:   (a) by the judgment debtor;   (b) with property other than limited partnership property, by one or more of the other partners; or   (c) with limited partnership property, by the limited partnership with the consent of all partners whose interests are not so charged.   (4) This chapter does not deprive any partner or transferee of the benefit of any exemption laws applicable to the partner's or transferee's transferable partnership interest.   (5) This section provides the exclusive remedy by which a judgment creditor of a partner or transferee may satisfy a judgment out of the judgment debtor's transferable interest.   History: En. Sec. 44, Ch. 522, L. 1981; amd. Sec. 1311, Ch. 56, L. 2009; amd. Sec. 58, Ch. 216, L. 2011.
MT Code § 35-12-1104 (2021)
2021 Montana Code Annotated|Title 35. Corporations, Partnerships, and Associations|Chapter 12. Limited Partnerships|Part 11. Assignment of Partnership Interests|35-12-1104. Repealed

  35-12-1104. Repealed. Sec. 97, Ch. 216, L. 2011.   History: En. Sec. 45, Ch. 522, L. 1981; amd. Sec. 29, Ch. 268, L. 1997.
MT Code § 35-12-1105 (2021)
2021 Montana Code Annotated|Title 35. Corporations, Partnerships, and Associations|Chapter 12. Limited Partnerships|Part 11. Assignment of Partnership Interests|35-12-1105. Power of estate of deceased partner

  35-12-1105. Power of estate of deceased partner. If a partner dies, the deceased partner's personal representative or other legal representative may exercise the rights of a transferee as provided in 35-12-1107 and, for the purpose of settling the estate, may exercise the rights of a current limited partner under 35-12-705.   History: En. Sec. 46, Ch. 522, L. 1981; amd. Sec. 1312, Ch. 56, L. 2009; amd. Sec. 59, Ch. 216, L. 2011.
MT Code § 35-12-1106 (2021)
2021 Montana Code Annotated|Title 35. Corporations, Partnerships, and Associations|Chapter 12. Limited Partnerships|Part 11. Assignment of Partnership Interests|35-12-1106. Partner's transferable interest

  35-12-1106. Partner's transferable interest. The only interest of a partner that is transferable is the partner's transferable interest. A transferable interest is personal property.   History: En. Sec. 56, Ch. 216, L. 2011.
MT Code § 35-12-1107 (2021)
2021 Montana Code Annotated|Title 35. Corporations, Partnerships, and Associations|Chapter 12. Limited Partnerships|Part 11. Assignment of Partnership Interests|35-12-1107. Transfer of partner's transferable interest

  35-12-1107. Transfer of partner's transferable interest. (1) A transfer, in whole or in part, of a partner's transferable interest:   (a) is permissible;   (b) does not by itself cause the partner's dissociation or a dissolution and winding up of the limited partnership's activities; and   (c) does not, as against the other partners or the limited partnership, entitle the transferee to participate in the management or conduct of the limited partnership's activities, to require access to information concerning the limited partnership's transactions except as otherwise provided in subsection (3), or to inspect or copy the required information or the limited partnership's other records.   (2) A transferee has a right to receive, in accordance with the transfer:   (a) distributions to which the transferor would otherwise be entitled; and   (b) upon the dissolution and winding up of the limited partnership's activities the net amount otherwise distributable to the transferor.   (3) In a dissolution and winding up, a transferee is entitled to an account of the limited partnership's transactions only from the date of dissolution.   (4) Upon transfer, the transferor retains the rights of a partner other than the interest in distributions transferred and retains all duties and obligations of a partner.   (5) A limited partnership need not give effect to a transferee's rights under this section until the limited partnership has notice of the transfer.   (6) A transfer of a partner's transferable interest in the limited partnership in violation of a restriction on transfer contained in the partnership agreement is ineffective as to a person having notice of the restriction at the time of transfer.   (7) A transferee that becomes a partner with respect to a transferable interest is liable for the transferor's obligations under 35-12-902 and 35-12-1011. However, the transferee is not obligated for liabilities unknown to the transferee at the time the transferee became a partner.   History: En. Sec. 57, Ch. 216, L. 2011.