N.M. Stat. § 54-2A-507

Right to distribution.

Last amended: 2007Year: 2026Length: 72 wordsOfficial source
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.
N.M. Stat. § 54-2A-507: Right to distribution. | Justis AI