48-7-702. Assignment of partnership interest.
86 words·~1 min read·
/sd/title-48/chapter-48-7/48-7-702A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Except as provided in the partnership agreement, a partnership interest is assignable in whole or in part. 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. An assignment entitles the assignee to receive, to the extent assigned, only the distribution to which the assignor would have been entitled. Except as provided in the partnership agreement, a partner ceases to be a partner upon assignment of all his partnership interest.