Vermont § 3454 - Distribution upon withdrawal
Full text of Vermont Vermont Statutes Online § 3454 — Distribution upon withdrawal, with citation guidance and answers to common questions.
§ 3454. Distribution upon withdrawal
- Except as provided in this subchapter, upon withdrawal any withdrawing partner is
entitled to receive any distribution to which he or she is entitled under the partnership
agreement and, if not otherwise provided in the agreement, he or she 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 what a willing
buyer would pay a willing seller for the interest, with neither party being under
any compulsion to buy or sell his or her right to share in distributions from the
limited partnership. (Added 1997, No. 149 (Adj
Frequently Asked Questions About Vermont § 3454
What does Vermont Statutes Online § 3454 cover?
Section 3454 ("Distribution upon withdrawal") is part of the Vermont Statutes Online, the codified statutory law of Vermont. 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 Vermont § 3454?
A common citation format is "Vermont Statutes Online § 3454" (Vermont). 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 Vermont law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Vermont official source linked on this page or consult a licensed Vermont attorney.
How does Vermont § 3454 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Vermont 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 Vermont.