§ 23-16-8-2 — Assignment of partnership interest

Indiana § 23-16-8-2

• Jurisdiction: Indiana
• Title 23: BUSINESS AND OTHER ASSOCIATIONS
• Art. 16: LIMITED PARTNERSHIPS
• Ch. 8: Assignment of Partnership Interests

Text

Unless otherwise provided in the partnership
agreement:
(1) a partnership interest is assignable in whole or in part;
(2) an assignment of a partnership interest does not dissolve a
limited partnership or entitle the assignee to become a partner or
to exercise any rights or powers of a partner;
(3) an assignment entitles the assignee to share in the profits and
losses, to receive the distribution or distributions, and to receive
the 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 ceases to be a partner and to have the power to
exercise any rights or powers of a partner upon assignment of all
of the partner's partnership interest.

Legislative History

As added by P.L.147-1988, SEC.1.