Sec. 32.11.260. Withdrawal of limited partner.
A limited partner may not withdraw from a limited partnership except at the time or upon the happening of events specified in the partnership agreement. Notwithstanding anything to the contrary under applicable law, unless the partnership agreement provides otherwise, a limited partner may not withdraw from a limited partnership before the dissolution and winding up […]
Sec. 32.11.270. Distribution upon withdrawal.
Except as provided in AS 32.11.240 – 32.11.310, upon withdrawal a withdrawing partner is entitled to receive a distribution to which the withdrawing partner is entitled under the partnership agreement and, if not otherwise provided in the agreement, the withdrawing partner is entitled to receive, within a reasonable time after withdrawal, the fair value of […]
Sec. 32.11.280. Distribution in kind.
Except as provided in writing in the partnership agreement, a partner, regardless of the nature of the partner’s contribution, does not have the right to demand and receive a distribution from a limited partnership in a form other than cash. Except as provided in writing in the partnership agreement, a partner may not be compelled […]
Sec. 32.11.290. Right to distribution.
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.
Sec. 32.11.140. Information.
Each limited partner has the right to (1) inspect and copy the partnership records required to be maintained by AS 32.11.840; and (2) obtain from the general partners from time to time upon reasonable demand (A) true and full information regarding the state of the business and financial condition of the limited partnership; (B) promptly […]
Sec. 32.11.150. Admission of additional general partners.
After the filing of a limited partnership’s original certificate of limited partnership, additional general partners may be admitted as provided in writing in the partnership agreement or, if the partnership agreement does not provide in writing for the admission of additional general partners, with the written consent of all partners.
Sec. 32.11.160. Events of withdrawal.
Except as approved by the specific written consent of all partners at the time, a person ceases to be a general partner of a limited partnership upon the happening of any of the following events: (1) the general partner withdraws from the limited partnership under AS 32.11.250; (2) the general partner ceases to be a […]
Sec. 32.11.010. Formation of limited partnership.
(a) In order to form a limited partnership, a certificate of limited partnership shall be executed and filed with the Department of Commerce, Community, and Economic Development. The certificate must set out (1) the name of the limited partnership; (2) the address of the office and the name and address of the agent for service […]
Sec. 32.11.170. General powers and liabilities.
(a) Except as provided in this chapter or in the partnership agreement, a general partner of a limited partnership has the rights and powers and is subject to the restrictions of a partner in a partnership without limited partners. (b) Except as provided in this chapter, a general partner of a limited partnership has the […]
Sec. 32.11.020. Amendment to certificate; restated certificate.
(a) A certificate of limited partnership is amended by filing a certificate of amendment with the department. The certificate must set out (1) the name of the limited partnership; (2) the date of filing the certificate to be amended; and (3) the amendment to the certificate. (b) Within 30 days after the following events, an […]