Written by attorneys · grounded in primary & secondary sources — see below
A provisional distribution made by a partnership or limited partnership before its dissolution and winding up. The partnership must decide to make the distribution. Dissociation alone creates no right to receive one.
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Ivy Investments, a limited partnership, receives a large cash payment from a successful project. The general partner decides against any distribution until after the project closes. Limited partner Idris Ives dissociates from the firm. Ives demands an immediate payout. The partnership refuses because it never decided to make an interim distribution.
Iris Energy, a general partnership, earns quarterly profits. The partners vote against any distribution while they negotiate a new contract. Partner Ines Ibarra leaves the firm. Ibarra claims a right to her share of the profits. The remaining partners correctly deny the claim because no interim distribution was authorized.
Isaiah Ishikawa owns coastal property. A state statute bars all development for an interim period while regulators study erosion. Ishikawa sues claiming a taking. The court examines whether the temporary restriction denies all economically viable use during that period.
Ilana Isaacs and her partner marry in one state. While litigation over nationwide recognition proceeds, the couple lives in a state that withholds full marital benefits. The court later extends recognition retroactively, resolving the interim denial of rights.
Irene Ingalls is tried on criminal charges. The prosecution offers a statement whose admissibility remains unsettled under the confrontation clause. The trial court admits the statement on an interim basis. The appellate court later clarifies the standard and remands for a new determination.
Idina Iverson challenges a nuclear plant licensing procedure. The agency issues an interim rule while it develops a final regulation. The court reviews whether the interim measure satisfies statutory requirements during the period before the permanent rule takes effect.
No. Under the uniform acts, a partner's dissociation does not entitle the person to a distribution. The partnership must separately decide to make an interim distribution before any right arises.
Supporting sources
A partnership may make an interim distribution only when it decides to do so before dissolution and winding up. The decision triggers the right to receive the distribution in accordance with the applicable sharing rules.
Supporting sources
Once entitled to receive the distribution, the partner or transferee obtains the status of a creditor of the partnership with respect to that distribution and may pursue all creditor remedies.
Supporting sources
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