Nevada § 88.505 - Distribution upon withdrawal
Full text of Nevada Nevada Revised Statutes § 88.505 — Distribution upon withdrawal, with citation guidance and answers to common questions.
§ 88.505. Distribution upon withdrawal
Except as provided in NRS 88.490 to 88.525 , inclusive, upon withdrawal any withdrawing partner is entitled to receive any 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 his or her interest
in the limited partnership as of the date of withdrawal based upon his or her right
to share in distributions from the limited partnership.
Frequently Asked Questions About Nevada § 88.505
What does Nevada Revised Statutes § 88.505 cover?
Section 88.505 ("Distribution upon withdrawal") is part of the Nevada Revised Statutes, the codified statutory law of Nevada. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Nevada § 88.505?
A common citation format is "Nevada Revised Statutes § 88.505" (Nevada). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Nevada law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Nevada official source linked on this page or consult a licensed Nevada attorney.
How does Nevada § 88.505 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Nevada can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Nevada.