362.479 Assignment of partnership interest.
101 words·~1 min read·
/ky/chapter-362/362-479A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Unless otherwise provided in the partnership agreement:
(1)A partnership interest shall be assignable in whole or in part;
(2)An assignment of a partnership interest shall not dissolve a limited partnership or
entitle the assignee to become or to exercise any rights of a partner;
(3)An assignment shall entitle the assignee to receive such distributions, and to receive
such allocation of income, gain, loss, deduction or credit or similar item, to which
the assignor was entitled, to the extent assigned; and
(4)A partner shall cease to be a partner upon the assignment of all of his partnership
interest.