§ 17-21-503 — Transfer of partner's transferable interest

Wyoming § 17-21-503

• Jurisdiction: Wyoming
• Title 17: Corporations, Partnerships and Associations
• Ch. 21: UNIFORM PARTNERSHIP ACT
• Art. 5: TRANSFEREES AND CREDITORS OF PARTNER

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(a) A transfer, in whole or in part, of a partner's
transferable interest in the partnership:
(i) Is permissible;
(ii) Does not by itself cause a winding up of the
partnership business; and
(iii) Does not, as against the other partners or the
partnership, entitle the transferee, during the continuance of
the partnership, to participate in the management or conduct of
the partnership business, to require access to information
concerning or an account of partnership transactions or to
inspect or copy the partnership books or records.
(b) A transferee of a partner's transferable interest in
the partnership is entitled to receive, in accordance with the
transfer, distributions to which the transferor would otherwise
be entitled. Upon transfer, the transferor retains the rights
and duties of a partner other than the interest in distributions
transferred.
(c) If an event causes a dissolution and winding up of the
partnership business under W.S. 17-21-801, a transferee is
entitled to receive, in accordance with the transfer, the net
amount otherwise distributable to the transferor. In a
dissolution and winding up, a transferee may require an
accounting only from the date of the last account agreed to by
all of the partners.
(d) Until receipt of notice of a transfer, a partnership
has no duty to give effect to the transferee's rights under this
section.