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Code · Michigan · Chapter 449 — Partnerships

449.1702 Partnership interest; assignment; effect.

82 words·~1 min read·/mi/chapter-449/449-1702

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449.1702 Partnership interest; assignment; effect.
Sec. 702.
Except as provided in the partnership agreement:
(i)a partnership interest is assignable in whole or in part;
(ii)an assignment of a partnership interest does not dissolve a limited partnership or entitle the assignee to become or to exercise any rights of a partner;
(iii)an assignment entitles the assignee to receive, to the extent assigned, only the distribution to which the assignor would be entitled.
History: 1982, Act 213, Eff. Jan. 1, 1983
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