§ 23-4-1-27 — Assignment of partner's interest

Indiana § 23-4-1-27

• Jurisdiction: Indiana
• Title 23: BUSINESS AND OTHER ASSOCIATIONS
• Art. 4: PARTNERSHIPS
• Ch. 1: Uniform Partnership Act

Text

(1) A conveyance by a partner of his interest
in the partnership does not of itself dissolve the partnership, nor, as
against the other partners in the absence of agreement, entitle the
assignee, during the continuance of the partnership, to interfere in the
management or administration of the partnership business or affairs, or
to require any information or account of partnership transactions, or to
inspect the partnership books; but it merely entitles the assignee to
receive in accordance with his contract the profits to which the
assigning partner would otherwise be entitled.
(2) In case of a dissolution of the partnership, the assignee is entitled
to receive his assignor's interest and may require an account from the
date only of the last account agreed to by all the partners.
Formerly: Acts 1949, c.114, s.27.