Description

This smart field captures a right of the general partner or manager to make the election under section 754 of the U.S. Internal Revenue Code to adjust the basis of the partnership/company’s assets when partnership/company property is distributed or an interest in the partnership/company is transferred.


Jurisdiction

  • United States (California, Delaware, and Texas)

Document Types

  • 97% Governance Agt
  • 3% Other

Tags

  • LPA/LLC

Language

  • 100% English