Section 40: Assignment of partnership interest
87 words·~1 min read·
/ma/part-i/title-xv/chapter-109/40A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 40. Except as provided in the partnership agreement, a partnership interest is assignable in whole or in part. 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. An assignment entitles the assignee to receive, to the extent assigned, only the distribution to which the assignor would be entitled. Except as provided in the partnership agreement, a partner ceases to be a partner upon assignment of all his partnership interest.